Clade, the Facebook for the rich, is a runaway success. The New York-based fintech outlined its plans to finews.com, as well as how it will remained linked to Credit Suisse.
It isn’t easy to get hold of Jonathan Lipton these days. Art Miami keeps him going – not because of the art as such, but because he is busy recruiting new members of his club.
The club is extremely exclusive and fully digital, as previously reported by finews.com (here and here). Access is restricted to the select few with $50 million plus in assets, as the company says.
Disruptive Enterprise
A brainchild of Credit Suisse Chairman Urs Rohner, the service designed as a «Facebook for the rich» developed into an independent virtual platform. With a new brand name: «Eleven» – 11 Madison Avenue on Manhattan being the U.S. headquarters of Credit Suisse – became «Clade».
The startup intends to disrupt private banking, Clade boss Lipton told «Bloomberg» recently. He told finews.com how he intends to attract the very rich: «Clade is using fintech to serve global ultra-high net worth individuals in areas that have proven to be elusive for traditional private banks,» he said in an emailed interview.
«While banks are very good at delivering standardized investment solutions, we innovate and disrupt around bespoke direct investments, philanthropy and art.»
Credit Suisse Ties
The head of Clade knows what he’s talking about. he used to work for Credit Suisse’s wealth management outfit. The Swiss banking giant retained a stake in his firm even as Clade, independent of Credit Suisse: «We remain close to the Swiss bank,» Lipton said.
Still, the startup is open for cooperation agreements with other financial service companies. Rumor has it that Temasek, the Singapore state fund, has invested in the platform.
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