Citizendia
Your Ad Here

Credit Suisse
Type Holding company
Founded 1856
Founder Alfred Escher
Headquarters Zürich, Switzerland
Key people Brady Dougan (CEO)
Oswald Grübel (Former CEO)
Industry Finance
Products Financial services
Revenue CHF 36. A holding company is a company that owns part all or a majority of other companies' outstanding Stock. An entrepreneur is a person who has possession over a company enterprise, or Venture, and assumes significant accountability for the inherent risks and the outcome Alfred Escher ( February 20 1819 in Zürich – December 6 1882) was a Swiss politician and Railroad entrepreneur Zürich (, Zürich German: Züri, Zurich, Zurigo; in English generally Zurich) is the largest city in Switzerland and capital of the Switzerland (English pronunciation; Schweiz Swiss German: Schwyz or Schwiiz Suisse Svizzera Svizra officially the Swiss Confederation For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" The field of finance refers to the concepts of Time, Money and Risk and how they are interrelated In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need Financial services refer to services provided by the finance industry. In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services 13 billion [1]
Net income CHF 8. Net income is equal to the Income that a firm has after subtracting costs and Expenses from the total Revenue. 549 billion [1]
Employees 48,000 [2]
Website www.credit-suisse.com

The Credit Suisse Group (SWX: CSGN, NYSE: CS) is a financial services company, headquartered in Zurich, Switzerland. Employment is a Contract between two parties, one being the employer and the other being the employee. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages SWX Swiss Exchange is Switzerland 's Stock exchange, based in Zürich. The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. Financial services refer to services provided by the finance industry. Zürich (, Zürich German: Züri, Zurich, Zurigo; in English generally Zurich) is the largest city in Switzerland and capital of the Switzerland (English pronunciation; Schweiz Swiss German: Schwyz or Schwiiz Suisse Svizzera Svizra officially the Swiss Confederation It is the second-largest Swiss bank, behind UBS AG. Banking in Switzerland is characterized by stability privacy and protection of clients' assets and information UBS AG ( SWX: UBSN) is a diversified global financial services company with its main headquarters in Basel & Zürich, Switzerland Credit Suisse was founded by Alfred Escher in 1856 under the name Schweizerische Kreditanstalt (SKA, Swiss Credit Institution). Alfred Escher ( February 20 1819 in Zürich – December 6 1882) was a Swiss politician and Railroad entrepreneur The bank is organized into three divisions, Investment Banking, Private Banking, and Asset Management. Investment banks profit from companies and governments by raising money through issuing and selling Securities in the Capital markets (both equity and Private banking is a term for Banking Investment and other Financial services provided by banks to private individuals investing sizable assets Shared Services, which includes functions such as IT and legal/compliance, encompasses all three major areas. Shared Services refers to the provision of a service by one part of an organization or group where that service had previously been found in more than one part of the organization or group

In 1942, it opened its first branch outside of Switzerland, in New York City. The City of New York 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. First Boston Corporation was a New York-based Investment bank, founded in 1932 and acquired by Credit Suisse in 1988 when it became 'CS First Boston' Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 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. Investment banks profit from companies and governments by raising money through issuing and selling Securities in the Capital markets (both equity and Donaldson Lufkin & Jenrette or DLJ was a US Investment bank founded by William H Electronic commerce, commonly known as e-commerce' or eCommerce, consists of the buying and selling of products or services over electronic

Contents

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 (CSFB), now the Investment Banking division, Credit Suisse Asset Management (CSAM), and Credit Suisse Private Banking (CSPB), re-branded themselves, becoming collectively known as Credit Suisse. This move was initiated to better leverage each others' resources and capabilities to create a "One Bank" brand and effort.

Credit Suisse

Credit Suisse Building in London
Credit Suisse Building in London

The Credit Suisse business unit is a provider of wide-ranging 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 was founded by Alfred Escher. Alfred Escher ( February 20 1819 in Zürich – December 6 1882) was a Swiss politician and Railroad entrepreneur

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. Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 It is a member of the prestigious bulge bracket of securities firms. Bulge bracket is a phrase associated with Finance, in particular the Investment banking industry

Credit Suisse Private Banking CSPB (Renamed Credit Suisse Private Banking Division)

Within the Private Banking sector Credit Suisse provides comprehensive advice and delivers 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 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. Winterthur (pronounced Ger /vɪntərtur/ Eng /tʊər/ is a city in the canton of Zurich in northern Switzerland. AXA acquired the leading Swiss insurance company from Credit Suisse Group for about 8 billion Euros. AXA () is a French global insurance companies group headquartered in Paris and founded in 1985 by Claude Bébéar. [3]

Units

The company has three operating units as of 2004.

History

Credit Suisse's older logo
Credit Suisse's older logo

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 completed 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). Donaldson Lufkin & Jenrette or DLJ was a US Investment bank founded by William H [4]

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. Rainforests are Forests characterized by high Rainfall with definitions setting minimum normal annual rainfall between 1750–2000 mm (68-78 inches Illegal logging is the harvest transportation purchase or sale of timber in violation of national Laws The harvesting procedure itself may be illegal including 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. Initial public offering (IPO, also referred to simply as a "public offering" is when a company issues Common stock or shares to the public for the first The conclusion was that the company meets all relevant national and international standards on sustainable forestry. [5][6][7]

Quick facts

See also

Main competitors

Notes and references

  1. ^ a b CREDIT SUISSE Results 2007
  2. ^ Facts&Figures, accessed 2008-02-16
  3. ^ Credit Suisse Group sells Winterthur to AXA
  4. ^ [1]
  5. ^ Bruno Manser Fonds: Rainforest NGOs launch campaign against Samling stock exchange listing
  6. ^ Protest against the Samling involvement (in German)
  7. ^ Media release of Samling, May 9, 2007
  8. ^ League Tables
  9. ^ http://www.thomson.com/pdf/financial/league_table/ma/237992/3Q07_MA_Global_Finl_Adv
  10. ^ PRESS RELEASE October 15, 2007: Credit Suisse Named Global Investment Bank of the Year by The Banker Magazine
  11. ^ Leveraged Finance House Of The Year: Credit Suisse - The Banker
  12. ^ High Yield Bond House Of The Year: Credit Suisse - The Banker
  13. ^ Convertibles House Of The Year: Credit Suisse - The Banker

External links

Company data

The European Financial Services Roundtable (EFSR is a European organization located in Brussels, Belgium, of financial service companies to provide a voice on policies ABN AMRO is a Dutch bank currently owned by RFS Holdings BV, a consortium of Royal Bank of Scotland Group, Fortis Bank Nederland, and Banco Santander Barclays Capital is a leading global investment bank. It is the investment banking division of Barclays plc which has a balance sheet of over £1 The Bear Stearns Companies Inc, based in New York City, was one of the largest global Investment banks and securities trading and brokerage Banc of America Securities LLC (BAS based in New York City is the investment banking subsidiary of Bank of America. BNP Paribas () is one of the main Banks in Europe. It was created on 23 May 2000 through the merger of Banque Nationale de Paris (BNP and Paribas Deutsche Bank AG (literally "German Bank" ˈdɔɪtʃə,) is an international Universal bank with a broad private clients franchise headquartered in Dresdner Kleinwort (DKIB is the Investment bank of Dresdner Bank AG, part of the Allianz Group since July 2001 (Dresdner Bank AG is currently being The Goldman Sachs Group Inc, or simply Goldman Sachs ( is a large global Bank holding company that engages in Investment banking securities HSBC Holdings plc ( (,,,) is a Public limited company incorporated in England and Wales, headquartered in London. JPMorgan Chase & Co ( is the largest Banking institution in the United States by deposits and market capitalization and is one of the oldest operating Lazard Ltd ( is the parent company of Lazard LLC a New York -based independent Investment bank with approximately 2400 employees in 41 cities across 24 countries Lehman Brothers Holdings Inc ( (pronounced ˈliːmən was a global financial-services firm prior to its bankruptcy and sale in 2008 ---- Macquarie Group Limited (formerly Macquarie Bank Limited is a global Investment banking and diversified Financial services group providing banking financial Merrill Lynch & Co Inc () is a global financial services firm Morgan Stanley ( is a global Financial services provider headquartered in New York City New York United States UBS AG ( SWX: UBSN) is a diversified global financial services company with its main headquarters in Basel & Zürich, Switzerland RBC Capital Markets is the corporate and investment banking division of Royal Bank of Canada ("RBC" Wachovia Corporation ( based in Charlotte North Carolina, is a diversified Financial services holding company provided via its operating subsidiaries a broad GStock is a Distributed computing project formed in 2006 for stock market analysis
© 2009 citizendia.org; parts available under the terms of GNU Free Documentation License, from http://en.wikipedia.org
 Dapyx Software network: MP3 Explorer | Ebook Manager | Zenithic