Today the class visited Credit Suisse Bank in Raleigh, North Carolina. The bank was founded in 1856 in Zurich, Switzerland. As of right now, Credit Suisse has 530 offices and 46,000 employees around the world. The company specializes in private and investment banking. Private banking includes financial services for high net-worth (5 million dollars or more). Investment banking includes working with institutional investors and businesses like banks and hedge funds to invest in securities like stocks, bonds, and options. Credit Suisse is trying to grow to be the leading bank for both private and institutional investors. The bank also has headquarters in every geographic region, including the Americas, Asia, Europe, etc. In America specifically, the company has offices in 42 cities. It also employs people in institutions known as ‘Centers of Excellence’ which focus on providing optimal customer service. The major functions of the Raleigh branch of Credit Suisse are operations, information and technology, finance, and shared functions. All these functions involve either investment banking, private banking or both.
The mission of Credit Suisse bank is to engage in a client focused and capital efficient strategy to benefit from a more constructive market environment while limiting its risk exposure in down markets. Credit Suisse does a lot to fulfill the mission in regards to its client-focused approach. Credit Suisse implemented ‘Centers of Excellence’ in various offices around the world to specialize in excellent customer service. These centers show the client-focused attitude the bank has.
The customer of Credit Suisse can either be high net-worth individuals or institutions that invest in markets. The high net-worth individuals build up a relationship with a Credit Suisse employee who gives them sound financial service and advice. This is called Private Banking, and is only half of what Credit Suisse does. The side of the bank is investment banking. In this part of the business, institutional investors like businesses and hedge funds use Credit Suisse’s service to make investments that minimize risk and maximize potential profits.
The customers of Credit Suisse value the high level of financial expertise and customer service the bank provides. As I mentioned before, Credit Suisse employs people in “Centers of Excellence” with the goal of providing superior services to customers. Like any customer of a large investment bank, the consumers value a fair degree of stability and capital efficiency from the bank that uses their money.
The future plan for Credit Suisse is to continue to grow and one day become the best bank in the world. The company is always searching for new areas of growth and new regions to potentially profit in. Since the bank is so big, the major plans for the future right now are to improve the services the bank currently offers while expanding its footprint in current geographic regions.
Credit Suisse’s results as a company are that it’s a globally successful bank that offers unique services in both private and investment banking. Due to the success of these functions, the bank has posted revenues of $23.97B and holds assets of $924.28B as of 2012. The company has grown to become one of the largest and most profitable banks in the world and plans to keep moving forward.
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