Today our class had our last business visit and tour. We visited Credit Suisse which is located basically in Raleigh, North Carolina. Credit Suisse is a financial services company that mostly focuses on private banking, investment banking, and wealth management. The company was founded in 1856 in Switzerland and today employs around 46,400 people in over 50 countries worldwide. The building our class visited today is known as the Raleigh Center for Excellence and is one of five Centers of Excellence worldwide. The Raleigh center opened up it’s doors in 2005 and it currently employs around 1,300 staff members.
Credit Suisse’s mission is “to leverage geographic diversity and new sources of talent to create a cost effective global business support center that provides both operational and technological resiliency.” Our presenter put a lot of emphasis on private banking, stressing that was their main source of profit so their mission must be mostly about exceptional service at reasonable prices. Credit Suisse is dedicated into making sure all of their clients are put into the best possible financial situation. Their mission also includes providing all of their customers with advisory services and solutions to any financial challenges they may come by. Credit Suisse’s dedication to make sure their clients can hurdle any financial challenges is why their one of the most respected banks worldwide today.
Credit Suisse’s customers include many different corporations, governments across the globe, institutional investors, and private individuals. All of their clients must have a minimum income of 5 million dollars and Credit Suisse currently has over 2 million private customers that they help advise their income properly. Where the company was founded in Switzerland there is 38 offices and in Switzerland Credit Suisse contains over 100,000 clients. Currently Credit Suisse’s customers are spread across 50 different countries.
The clients of Credit Suisse all value Credit Suisse’s ability to safely and privately manage and advise their enormous amounts of money. Since Credit Suisse mostly deals with private banking their customers must appreciate their privacy in their clients financial situations. Since Credit Suisse has been so successful for over 150 years their clients must appreciate their advisory service skills.
Credit Suisse’s results include being a successful bank for over 150 years worldwide. Credit Suisse has received honors for being one of the having some of the best private banking services worldwide. Just last year the bank made over 1.2 billion in assets last year. Currently the bank contains 530 offices throughout 50 different countries. Obviously if you have to have a net worth of 5 million dollars to even be a client at Credit Suisse then their obviously one of the most prestigious banks worldwide.
Credit Suisse’s plan for the future includes to continue to expand their bank worldwide. Specifically the bank wants to expand to places in Asia and more in Europe. Basically the bank wants to continue what they have been doing for the past 150 years because they’ve been so successful. Also they want to grow their customer base across the globe, and currently they are in the process of planning to build more new offices around the world. Overall, I thought this visit was very informative and interesting. Private banking is strictly for the wealthy and it was very interesting to learn how banks like Credit Suisse deal with private banking clients.
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