The Credit Suisse Group AG
(, ) is a Swiss multinational financial services
company headquartered in Zurich
, with more than 250 branches in Switzerland and operations in more than 50 countries.
Credit Suisse was founded by Alfred Escher
in 1856 under the name Schweizerische Kreditanstalt
In 1942, it opened its first branch outside of Switzerland, in New York City.
In 1988, it gained a controlling stake in The First Boston Corporation
and in 1993, Credit Suisse Group bought Schweizerische Volksbank
(). In 1996 the two retail banks were merged and renamed Credit Suisse
In 2000, it acquired the investment bank Donaldson, Lufkin & Jenrette
(DLJ) and, with it, an e-commerce
software portfolio, including DLJ Direct, that it later sold to the Bank of Montreal
In 2009, Credit Suisse was recognized as "Bank of the Year" by the International Financing Review.
Credit Suisse is considered to be within the prestigious "bulge bracket
" of investment banks.
The firm earned accolades throughout the recent financial crises for prudent risk management and strategic allocation of capital. It is one of the few major international banks to weather the crisis without any direct government support.
- 1856 – Credit Suisse founded
- 1905 – First branch (in Basel)
- 1940 – First branch outside Switzerland (in New York)
- 1978 – Start of co-operation with The First Boston......