Credit Suisse
Credit Suisse Group AG is a Swiss multinational investment bank and financial services company, headquartered in Zürich, Switzerland, with offices in major financial centers worldwide. As one of the nine global “Bulge Bracket” banks, it provides a broad range of services in investment banking, private banking, asset management, and shared services. The bank is renowned for its commitment to strict client confidentiality and banking secrecy practices.
Founded in 1856 to support the development of Switzerland’s rail network, Credit Suisse played a key role in financing the creation of the country’s electrical grid and the European rail system. During the 20th century, the bank shifted toward retail banking in response to the rising middle class and increased competition from other Swiss institutions, including UBS and Julius Bär. In 1978, it partnered with First Boston, eventually acquiring a controlling stake in the bank in 1988 following a financial crisis at First Boston. Over the next two decades, Credit Suisse expanded rapidly through acquisitions, including Winterthur Group, Swiss Volksbank, Swiss American Securities Inc., and Bank Leu.
The company underwent several restructurings in 2002, 2004, and 2006, and remained relatively unaffected by the global financial crisis. However, it began reducing its investment business, laying off staff, and cutting costs in the aftermath. Credit Suisse faced multiple international investigations related to tax avoidance, culminating in a guilty plea and the payment of US$2.6 billion in fines between 2008 and 2012. As of 2017, the bank managed CHF 1.376 trillion in assets, reflecting a 9.9% increase from the previous year.
Contact Info
- +41 44 333 11 11
- social.media@credit-suisse.com
- www.credit-suisse.com
- Zürich, Switzerland
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