Information AboutCredit Suisse |
| CATEGORIES ABOUT CREDIT SUISSE | |
| banks of switzerland | |
| companies listed on the swx swiss exchange | |
| companies established in 1856 | |
| investment banks | |
The Credit Suisse Group ( company, headquartered in Zürich , Switzerland . It is the second-largest Swiss Bank , behind UBS AG . Credit Suisse was founded in 1856 under the name '''Schweizerische Kreditanstalt''' (SKA, Swiss Credit Institution). The bank is organized into three divisions, Investment Banking , Private Banking , and Asset Management . Shared Services , which includes functions such as IT and legal/compliance, encompasses all three major areas. In 1940, it opened its first branch outside of Switzerland, in New York City . In 1988, it gained a controlling stake in The First Boston Corporation , hence the long-time name of its investment banking unit Credit Suisse First Boston . In 1993, Credit Suisse Group bought Schweizerische Volksbank (People's Bank of Switzerland). In 1996 the two retail banks were merged and renamed '''Credit Suisse'''. In 2000, it acquired the Investment Bank Donaldson, Lufkin & Jenrette (DLJ) and, with it, an E-commerce software portfolio, including DLJ Direct , that it later sold to the Bank Of Montreal . STRUCTURE The Credit Suisse Group is structured in three divisions, Investment Banking, Private Banking and Asset Management . On January 16, 2006, Credit Suisse First Boston, now the Investment Banking division, re-branded, becoming simply Credit Suisse. Credit Suisse The Credit Suisse business unit is a provider of a wide-ranging of financial services in Europe and other selected markets. It offers investment products, private banking and financial advisory services for private and corporate clients.
Credit Suisse First Boston (Renamed Credit Suisse, Investment Banking Division) Credit Suisse First Boston (Renamed Credit Suisse) is active in investment banking, capital markets and financial services, it is a member of the prestigious bulge bracket of securities firm.
Credit Suisse Private Banking CSPB (Renamed Credit Suisse Private Banking Division) In Private Banking, Credit Suisse provides comprehensive advice and a broad range of investment products and services tailored to the complex needs of high-net-worth individuals globally. Credit Suisse’s structured advisory process encompasses both asset and liability management. Furthermore, Credit Suisse is a leading provider of innovative alternative investment products. Wealth management solutions include tax planning; pension planning; life insurance solutions; wealth and inheritance advice, trusts and foundations. Credit Suisse offers multiple booking platforms and global execution capabilities. In Switzerland, Credit Suisse supplies banking products and services to private banking clients as well as to business and retail clients. Asset Management In its asset management business, Credit Suisse offers products across the full spectrum of investment classes, ranging from equities, fixed income and multiple-asset class products, to alternative investments such as real estate, hedge funds, private equity and volatility management. Credit Suisse’s asset management business manages portfolios, mutual funds, and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 18 countries, Credit Suisse’s asset management business is operated as a globally integrated network to deliver the bank’s best investment ideas and capabilities to clients around the globe. SHARED SERVICES In Shared Services, Credit Suisse provides high-quality, cost-effective services to support the divisions, while improving independent controls. The Shared Services divisions include CFO, COO, CRO, General Counsel, and IT division. Winterthur was divested from Credit Suisse on June 14, 2006. AXA acquired the leading Swiss insurance company from Credit Suisse Group for about 8 billion Euros. {Link without Title} UNITS The company has three operating units as of 2004.
HISTORY
Mergers & Acquisitions CSFB USA is a wholly owned subsidiary of Credit Suisse First Boston Inc., which is, in turn, a wholly owned subsidiary of CS. CS is a wholly owned subsidiary of CSG. CSFB USA was created through the merger with DLJ, which was closed on Nov. 3, 2000. CSFB LLC, CSFB's principal U.S. registered broker-dealer subsidiary, became a subsidiary of DLJ, and DLJ changed its name to CSFB USA. Prior to the DLJ Merger, the Credit Suisse Group (CS) purchased First Boston in 1988 creating CS First Boston. The firm's bulge bracket status came after the merger with Donaldson, Lufkin, & Jenrette (DLJ). {Link without Title} CRITICISMS In 2007, Credit Suisse was criticised for coordinating the listing of the Malaysian logging corporation Samling at the Hong Kong stock exchange. Environmentalists accuse Samling of Rainforest Destruction and Illegal Logging . Credit Suisse maintains that Samling was critically assessed prior to its Initial Public Offering by experts from the banks that participated in the listing and by an independent agency. The conclusion was that the company meets all relevant national and international standards on sustainable forestry. Bruno Manser Fonds: Rainforest NGOs launch campaign against Samling stock exchange listing Protest against the Samling involvement (in German) Media release of Samling, May 9, 2007 QUICK FACTS
SEE ALSO Main competitors
NOTES AND REFERENCES EXTERNAL LINKS Company data
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