Credit Suisse Asset Management sells investment classes, alternative investments, real-estate, equities, fixed income products, and other financial products. Credit Suisse Investment Banking handles securities, investment research, trading, prime brokerage, and capital procurement. Credit Suisse Private Banking has wealth management, corporate and institutional businesses. Operations are divided into four regions: Switzerland, Europe, the Middle East, and Africa, the Americas, and the Asian Pacific. A Shared Services department provides support functions like risk management, legal, IT, and marketing to all areas. Ĭredit Suisse has two divisions, Private Banking & Wealth Management and Investment Banking. It also has the authority to create committees that delegate specific management functions. The Board sets Credit Suisse's business strategies and approves its compensation (remuneration) principles based on guidance from the compensation committee. Shareholders elect members of the board of directors to serve a three-year term based on candidates nominated by the Chairman's and Governance Committee and the Board of Directors meet six times a year to vote on company resolutions. Shareholders elect auditors for one-year terms, approve the annual report and other financial statements, and have other powers granted by law. Credit Suisse is governed by a board of directors, its shareholders, and independent auditors The Board of Directors organise the annual General Meeting of Shareholders while investors with large stakes in the company determine the agenda. It owns the Credit Suisse bank and other interests in the financial services business. Ĭredit Suisse headquarters at Paradeplatz in ZürichĬredit Suisse Group AG, is organised as a joint-stock company registered in Zürich that operates as a holding company. In 2021, Credit Suisse had assets of CHF 1.6 trillion. The bank was at the center of multiple international investigations for tax avoidance which culminated in a guilty plea and the forfeiture of US$2.6 billion in fines from 2008 to 2012.
The company was one of the least affected banks during the global financial crisis, but afterwards began shrinking its investment business, executing layoffs and cutting costs. The biggest institutional shareholders of Credit Suisse include the Qatar Investment Authority and BlackRock (about 5% each), the US mutual fund providers Harris Associates (the largest shareholder as of August 2022, with 10.1%) and Dodge & Cox, the central bank of Norway and the Saudi Arabian Olayan Group. From 1990 to 2000, the company purchased institutions such as Winterthur Group, Swiss Volksbank, Swiss American Securities Inc. Credit Suisse partnered with First Boston in 1978 before buying a controlling share of the bank in 1988. In the 1900s, it began shifting to retail banking in response to the elevation of the middle class and competition from fellow Swiss banks UBS and Julius Bär. It issued loans that helped create Switzerland's electrical grid and the European rail system. Ĭredit Suisse was founded in 1856 to fund the development of Switzerland's rail system.
Credit Suisse is also primary dealer and Forex counterparty of the FED. The Financial Stability Board considers it to be a systemically important bank. It is known for strict bank–client confidentiality and banking secrecy.
Headquartered in Zürich, it maintains offices in all major financial centers around the world and is one of the nine global " Bulge Bracket" banks providing services in investment banking, private banking, asset management, and shared services. Credit Suisse Group AG is a global investment bank and financial services firm founded and based in Switzerland.
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