For our last visit of the class, we drove to Raleigh for an interactive visit with Credit Suisse. Founded in Zurich, Switzerland in 1856, Credit Suisse is a leading financial services company that specializes in the areas of private banking, wealth management, and investment banking. Their products and services include global securities sales, trading and execution, prime brokerage/capital raising/advisory services, and comprehensive investment research. The company employs about 46,400 people and has 530 offices located in over 50 countries across the globe. Registered shares of Credit Suisse Group AG (CSGN) are listed in Switzerland (SIX) and as American Depositary Shares (CS) in New York (NYSE).
The mission of Credit Suisse is to leverage geographic diversity and new sources of talents to create a cost effective global business support center that provides operational and technological resiliency. The Credit Suisse brand is an expression of their client focused business approach and our aim to become the world’s most admired bank.
The customer base of Credit Suisse is comprised of corporations, governments, institutional investors, including hedge funds and private individuals. They advise advise and manage portfolios and other investment vehicles for these clients. Credit Suisse has over 2 million private clients each with a minimum income of 5 million dollars. With 38 offices in Switzerland, the country holds over 100,000 of the business’ corporate and institutional customers.
The customers of Credit Suisse value reliable banking and high quality support services above all else. As a company that has been profitable and handling peoples money for over 150 years, their customers expect to be interacting with kind employees and given trustworthy advice that will lead them to financial success. Their customers value Credit Suisse’s name and the fact that they contribute to the success of globally established bank.
The results show that Credit Suisse provides nothing less than what they promise to their customers. With asses under management of over CHF 1,268 billion and a fee-based margin of 49 basis points, the company stands as a leading bank for private, corporate, and institutional clients. Furthermore, with 24% of their employees being located in the Americas, 20% in EMEA, and 15% in the Asia Pacific region, the company stands strong in the world’s largest markets and continues to grow.
The plan for Credit Suisse moving forward is defined by the company’s client-focused, capital-efficient strategy, which will benefit them from a more constructive market environment while limiting risk exposure in down markets. Along with this and hiring the most talented staff in their respective fields, Credit Suisse stresses corporate responsibility in banking, society, dialogue, for the environment, and as an employer.
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