RSS Feed for Financial News http://www.credit-suisse.com/news/en http://www.credit-suisse.com/news/en http://www.credit-suisse.com/framework/core/img/logo_cs.gif 2012 © Credit Suisse en media.relation@credit-suisse.com (Media Relation) Thu, 09 Feb 2012 00:00:00 +0100 60 webmaster.csg@credit-suisse.com (CSG Webmaster) Asset Management Awards Corporate Info Corporate Reporting Deals and Transactions General Insurance (Winterthur) Investment Banking Private Banking Research, studies, publications Swiss Business Banking Credit Suisse announced today that it plans to fully integrate Clariden Leu into its organization. It expects to achieve further growth and annually recurring cost savings of around CHF 200 million as a result of this measure. This is part of the previously announced target to increase Private Banking's contribution to the Group's pre-tax income by CHF 800 million by 2014. Hans Ulrich Meister, Chief Executive Officer Private Banking of Credit Suisse, has been appointed Chairman of the Board of Directors of Clariden Leu. Hanspeter Kurzmeyer has been named as its new CEO. The legal and operational integration is expected to be completed by the end of 2012. The resulting job cuts are part of the 3% headcount reduction at Credit Suisse Group over two years that was announced on November 1, 2011. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41891 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41891 Tue, 15 Nov 2011 06:06:12 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking 9M11 Core Results pre-tax income of CHF 3,747 million, net income attributable to shareholders of CHF 2,590 million, return on equity of 10.7%, underlying* return on equity of 11.8%, net new assets of CHF 40.5 billion. Continued strong capital position with Basel 2 tier 1 ratio of 17.7%, Basel 2.5 core tier 1 ratio of 10.0% and liquid balance sheet with net stable funding ratio (NSFR) of 97%; client deposits remain largest source of funding and grew by CHF 15 billion to CHF 278 billion. Credit Suisse takes steps to further evolve integrated strategy with significant reduction of risk-weighted assets in Investment Banking, measures to underpin leading profitability in Private Banking and increased allocation of resources to faster-growing and large markets. Previously announced expense run-rate reduction of CHF 1.0 billion effective January 1, 2012 increased to CHF 1.2 billion – including further reductions delivered through 2012 and 2013 overall expense run-rate reduction of CHF 2.0 billion. http://www.credit-suisse.com/investors/en/reports/2011_results_q3.jsp http://www.credit-suisse.com/investors/en/reports/2011_results_q3.jsp Tue, 1 Nov 2011 05:28:14 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking Credit Suisse Group reported underlying pre-tax income of CHF 1.2 billion, underlying net income of CHF 835 million and an underlying return on equity of 10% for 2Q11. Including business realignment costs of CHF 142 million and net fair value gains of CHF 41 million on own debt and stand-alone derivatives relating to own funding liabilities, pre-tax income was CHF 1.1 billion, net income attributable to shareholders was CHF 768 million and core results net revenues were CHF 6.3 billion. The return on equity attributable to shareholders was 9.7% and diluted earnings per share totaled CHF 0.48. The Basel II tier 1 ratio was 18.2% at the end of 2Q11. http://www.credit-suisse.com/investors/en/reports/2011_results_q2.jsp http://www.credit-suisse.com/investors/en/reports/2011_results_q2.jsp Thu, 28 Jul 2011 04:28:41 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking As previously disclosed, Credit Suisse has been responding to requests for information, including subpoenas, in an investigation by the US Department of Justice (DoJ) and other US authorities. The investigation concerns historical Private Banking services provided on a cross-border basis to US persons. As part of this process, on July 14, 2011, Credit Suisse received a letter notifying it that it is a target of the DoJ investigation. It has been reported that the US authorities are conducting a broader industry inquiry. Subject to our Swiss legal obligations, we will continue to cooperate with the US authorities in an effort to resolve these matters. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41815 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41815 Fri, 15 Jul 2011 05:03:49 +0000 Asset Management Corporate Reporting Investment Banking Private Banking At today’s Annual General Meeting of Credit Suisse Group AG in Zurich, shareholders approved all of the proposals put forward by the Board of Directors. In particular, they approved the creation of additional conditional capital for the purpose of contingent convertible bonds. Shareholders also voted in favor of a renewal of authorized capital at the current level. Furthermore, shareholders approved the distribution of CHF 1.30 per registered share against reserves from capital contributions. They also approved the 2010 Compensation Report. Three members of the Board of Directors were re-elected: Peter Brabeck-Letmathe, Jean Lanier and Anton van Rossum. Hans-Ulrich Doerig stepped down as Chairman and a member of the Board of Directors as of today and is succeeded by Urs Rohner. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41764 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41764 Fri, 29 Apr 2011 14:45:01 +0000 Asset Management Corporate Info Corporate Reporting General Insurance (Winterthur) Investment Banking Private Banking Swiss Business Banking Credit Suisse reported underlying core results as follows: pre-tax income of 2.2 billion, net income of CHF 1.6 billion on net revenue of CHF 8.4 billion and return on equity of 18.8%. This excludes fair value losses of CHF 617 million (CHF 467 million after tax) on own debt and stand-alone derivatives relating to own funding liabilities. Net income attributable to shareholders was CHF 1.1 billion in 1Q11 on net revenues of CHF 8.2 billion and a return on equity attributable to shareholders of 13.4%. Diluted earnings per share were CHF 0.90 and the tier 1 ratio was 18.2% as of the end of 1Q11. The weakening of the average rate of the US dollar and euro against the Swiss franc adversely affected results in 1Q11 compared to the previous year period. http://www.credit-suisse.com/investors/en/reports/2011_results_q1.jsp http://www.credit-suisse.com/investors/en/reports/2011_results_q1.jsp Wed, 27 Apr 2011 04:44:00 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking The Board of Directors of Credit Suisse Group AG today announced its proposals for the Annual General Meeting of April 29, 2011. Credit Suisse Group AG today published its 2010 Annual Report, which includes the Compensation Report, as well as its Corporate Responsibility Report and Company Profile. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41743 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41743 Thu, 24 Mar 2011 06:24:49 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Swiss Business Banking Credit Suisse Group today placed a 'Regulation S-only' issue of USD 2 billion 7.875% Tier 2 Buffer Capital Notes due 2041 (Tier 2 BCNs). The Tier 2 BCNs will be issued by Credit Suisse Group (Guernsey) I Limited, and guaranteed on a subordinated basis by Credit Suisse Group. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41721 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41721 Thu, 17 Feb 2011 17:38:26 +0000 Asset Management Corporate Reporting Investment Banking Private Banking Credit Suisse Group has executed a definitive agreement with strategic investors, Qatar Holding LLC and The Olayan Group, to issue an aggregate of approximately CHF 6 billion of Tier 1 buffer capital notes to be paid up no earlier than October 2013 for cash or in exchange for Tier 1 capital notes issued in 2008. This form of contingent capital will satisfy an estimated 50% of the high trigger contingent capital requirement under FINMA rules as part of the proposed Swiss TBTF-regime. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41709 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41709 Mon, 14 Feb 2011 05:58:25 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Swiss Business Banking Credit Suisse Group reported 4Q10 underlying net income of CHF 1 billion, net income attributable to shareholders was CHF 841 million with core net revenues of CHF 7.0 billion. Full year underlying net income of CHF 5.0 billion, net income attributable to shareholders of CHF 5.1 billion in 2010 and core net revenues of CHF 30.6 billion. The underlying return on equity was 11.5% in 4Q10 and 14.1% in 2010. Return on equity attributable to shareholders was 9.8% in 4Q10 and 14.4% in 2010. Diluted earnings per share were CHF 0.59 in 4Q10 and CHF 3.89 for the full year. As of the end of 4Q10, the tier 1 ratio was 17.2%. http://www.credit-suisse.com/investors/en/reports/2010_results_q4.jsp http://www.credit-suisse.com/investors/en/reports/2010_results_q4.jsp Thu, 10 Feb 2011 06:14:07 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking Presentations by Hans-Ulrich Meister, CEO Credit Suisse Switzerland, and Hanspeter Kurzmeyer, Head Private Clients Switzerland https://www.credit-suisse.com/upload/news-live/000000022278.pdf https://www.credit-suisse.com/upload/news-live/000000022278.pdf Fri, 26 Nov 2010 08:00:22 +0000 Corporate Info Corporate Reporting Swiss Business Banking Credit Suisse announced today that Paul Calello, Chairman of the Investment Bank of Credit Suisse and a member of the Bank’s Executive Board, died today in New York, of non-Hodgkin’s Lymphoma. He was 49 years old. He is survived by his wife, Jane DeBevoise, and their four children. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41643 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41643 Tue, 16 Nov 2010 18:50:31 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Credit Suisse Group reported net income of CHF 609 million in 3Q10 compared to CHF 1,593 million in 2Q10. Core net revenues were CHF 6,284 million in 3Q10 compared to CHF 8,420 million in 2Q10. Underlying net income was CHF 960 million. The return on equity was 7.0% in 3Q10 with the underlying return on equity at 11.2%. Diluted earnings per share were CHF 0.48. The tier 1 ratio was 16.7% as of the end of 3Q10. http://www.credit-suisse.com/investors/en/reports/2010_results_q3.jsp http://www.credit-suisse.com/investors/en/reports/2010_results_q3.jsp Thu, 21 Oct 2010 04:42:46 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking Credit Suisse takes note of the recommendations of the Expert Commission of the Federal Council that are designed to solve the ‘too big to fail’ issue relating to the big banks. Credit Suisse has prepared for the developments in the regulatory landscape over the past two years by reducing its risk-weighted assets and strengthening its capital base. Credit Suisse believes that its client-focused, capital-efficient strategy, which will lead to the accretion of capital through earnings, will allow it to meet these very stringent measures by 2019. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41605 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41605 Mon, 4 Oct 2010 05:15:39 +0000 Asset Management Corporate Info Investment Banking Private Banking Swiss Business Banking Credit Suisse announced today that its Asset Management division has agreed to acquire a minority interest in York Capital Management (“York”), a leading global hedge fund manager, based in New York. York will continue to operate independently and will continue to be led by Jamie Dinan, founder and Chief Executive Officer, Dan Schwartz, Chief Investment Officer, and the firm’s senior management team. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41591 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41591 Tue, 14 Sep 2010 18:17:22 +0000 Asset Management Credit Suisse today announced that Osama Abbasi has been appointed Chief Executive Officer of the Asia Pacific Region and a member of the Executive Board of Credit Suisse Group AG and Credit Suisse AG, reporting to Brady Dougan, effective October 1, 2010. Kai Nargolwala will become Chairman of Credit Suisse Asia Pacific effective the same date. Osama Abbasi, currently head of the Equities department of the Investment Bank in Asia Pacific, will become the CEO of the Asia Pacific region. He will be responsible for executing the bank’s strategy in Asia Pacific and will be responsible for both divisional and country performance in the region. Kai Nargolwala will take on the new role of non-executive Chairman of Credit Suisse in the region. In this role, he will provide counsel and guidance to senior management in the region, including the newly appointed CEO, with a focus on strategy and senior client relationships. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41578 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41578 Tue, 7 Sep 2010 05:00:37 +0000 Asset Management Corporate Reporting Investment Banking Private Banking Credit Suisse Group reported net income attributable to shareholders of CHF 1.6 billion in 2Q10 and core net revenues of CHF 8.4 billion. The return on equity attributable to shareholders was 17.8% in 2Q10 and diluted earnings per share were CHF 1.15. The tier 1 ratio was 16.3% at the end of 2Q10. http://www.credit-suisse.com/investors/en/reports/2010_results_q2.jsp http://www.credit-suisse.com/investors/en/reports/2010_results_q2.jsp Thu, 22 Jul 2010 04:27:33 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking Credit Suisse today announced a number of appointments to the Executive Board of Credit Suisse Group AG and Credit Suisse AG, effective July 1, 2010. Paul Calello has been appointed Chairman of the Investment Bank, and Eric Varvel, who currently serves as acting Chief Executive Officer (CEO) of the Investment Bank, has been appointed CEO of the Investment Bank. Fawzi Kyriakos-Saad, currently CEO of Russia, the countries of the Commonwealth of Independent States and Turkey, and Co-Head of the Global Emerging Markets Council, will succeed Mr. Varvel as CEO of the Europe, Middle East and Africa region. Antonio Quintella, currently CEO of Brazil and Co-Head of the Global Emerging Markets Council, will become CEO of the Americas region, succeeding Rob Shafir who has been covering this role in addition to serving as CEO of Asset Management. Mr. Shafir will remain CEO of Asset Management and will focus on growing this strategically important business. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41529 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41529 Thu, 24 Jun 2010 05:15:55 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Swiss Business Banking Credit Suisse has entered into an agreement to purchase from Fortis Bank Nederland its Prime Fund Solutions business ("PFS"), a global leader in hedge fund administration services. The acquisition enhances Credit Suisse’s offering to the alternative investment community through PFS’ leading services, which include independent administrative services, investor services, net asset value calculation, banking, custody and financing solutions. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41485 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41485 Mon, 10 May 2010 05:30:46 +0000 Asset Management Corporate Reporting Investment Banking Private Banking Swiss Business Banking At today’s Annual General Meeting of Credit Suisse Group AG in Zurich, shareholders approved all of the proposals put forward by the Board of Directors. In particular, they approved the re-election of four members of the Board of Directors whose terms of office expired today. Two candidates – Jassim Bin Hamad J. J. Al Thani and Robert H. Benmosche – were newly elected to the Board of Directors. Furthermore, shareholders approved the payment of an increased cash dividend of CHF 2.00 per share for the financial year 2009. They also voted in favor of amendments to the Articles of Association and approved the 2009 Compensation Report. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41475 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41475 Fri, 30 Apr 2010 15:01:18 +0000 Asset Management Corporate Info Corporate Reporting General Insurance (Winterthur) Investment Banking Private Banking Swiss Business Banking Credit Suisse today announced that Renato Fassbind, who has served as Chief Financial Officer of Credit Suisse Group AG for the past six years, will retire from his current position this fall. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41474 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41474 Fri, 30 Apr 2010 05:20:08 +0000 Asset Management Corporate Info Corporate Reporting General Insurance (Winterthur) Investment Banking Private Banking Swiss Business Banking Credit Suisse Group reported net income attributable to shareholders of CHF 2.1 billion in 1Q10 and core net revenues of CHF 9.0 billion. The return on equity attributable to shareholders was 22.3% and diluted earnings per share were CHF 1.63. The tier 1 ratio was 16.4% as of the end of 1Q10. http://www.credit-suisse.com/investors/en/reports/2010_results_q1.jsp http://www.credit-suisse.com/investors/en/reports/2010_results_q1.jsp Thu, 22 Apr 2010 04:42:00 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking Credit Suisse today announced the determination of the number of Credit Suisse Group shares for holders of Performance Incentive Plan I (PIP) units that were granted in early 2005. This five-year share-based compensation plan was introduced as part of 2004 compensation. In accordance with the terms of the plan, each outstanding PIP unit entitles the holder to approximately 4.8 Credit Suisse Group shares. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41449 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41449 Wed, 31 Mar 2010 16:15:44 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Swiss Business Banking Credit Suisse Group AG today published its 2009 Annual Report including its audited financial statements and the Compensation Report. The Business Review and Corporate Citizenship Report have also been published. The 2009 Annual Report, Business Review and Corporate Citizenship Report are available from 07:30 CET today on the Credit Suisse website at: <a href="http://www.credit-suisse.com/annualreporting">www.credit-suisse.com/annualreporting Hard copies can be ordered free of charge. The 2009 Annual Report on Form 20-F will be filed with the US Securities and Exchange Commission (SEC) on March 26, 2010 and will be available for download at: <a href="http://www.credit-suisse.com/sec">www.credit-suisse.com/sec https://www.credit-suisse.com/news/en/media_release.jsp?ns=41445 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41445 Thu, 25 Mar 2010 06:30:42 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Swiss Business Banking The Board of Directors of Credit Suisse Group AG today announced its proposals for the Annual General Meeting of April 30, 2010: Proposed for election to the Board of Directors as new members are Jassim Bin Hamad J. J. Al Thani, Chairman of the Board of Directors of Qatar Islamic Bank, and Robert H. Benmosche, President and CEO of American International Group, Inc. (AIG). Proposed for re-election to the Board of Directors are four current members: Noreen Doyle, Aziz R. D. Syriani, David W. Syz and Peter F. Weibel. The Board of Directors also proposes the distribution of a dividend of CHF 2.00 per registered share for the financial year 2009. In addition, the agenda includes amendments to the Articles of Association and a consultative vote on the 2009 Compensation Report. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41440 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41440 Mon, 22 Mar 2010 16:31:50 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Swiss Business Banking Presentation by Hans-Ulrich Meister, CEO Credit Suisse Switzerland https://www.credit-suisse.com/upload/news-live/000000022114.pdf https://www.credit-suisse.com/upload/news-live/000000022114.pdf Mon, 8 Mar 2010 08:00:54 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking Credit Suisse Group reported net income attributable to shareholders of CHF 0.8 billion in 4Q09 and core net revenues of CHF 6.5 billion. The return on equity attributable to shareholders was 8.3% in 4Q09 and diluted earnings per share were CHF 0.56. As of the end of 4Q09, the tier 1 ratio was 16.3%. http://www.credit-suisse.com/investors/en/reports/2009_results_q4.jsp http://www.credit-suisse.com/investors/en/reports/2009_results_q4.jsp Thu, 11 Feb 2010 05:42:01 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking Credit Suisse was recognized this week as the “Bank of the Year 2009” by International Financing Review (IFR), a leading investment banking magazine. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41390 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41390 Thu, 14 Jan 2010 08:34:47 +0000 Asset Management Awards Corporate Info Corporate Reporting Investment Banking Private Banking Swiss Business Banking Credit Suisse today announced the appointment of Pamela Thomas-Graham in the new role of Chief Talent, Branding and Communications Officer. She will be a member of the Executive Boards of Credit Suisse Group and Credit Suisse, and will have global responsibility for Human Resources, Corporate Communications, Corporate Branding and Advertising. Pamela Thomas-Graham joins Credit Suisse on the 11th of January and will report to Brady Dougan, CEO of Credit Suisse. Harald Stoehr, Global Head of Human Resources and Charles Naylor, Global Head of Corporate Communications and Branding will continue in their current roles and will now report to Pamela Thomas-Graham. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41386 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41386 Mon, 11 Jan 2010 06:30:05 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Swiss Business Banking Credit Suisse confirms that it is in exclusive discussions with Fortis Bank Nederland to acquire its Prime Fund Solutions business. This transaction would complement Credit Suisse's industry-leading prime services business and would be in line with the Bank’s client-focused, capital-efficient strategy. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41376 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41376 Fri, 18 Dec 2009 07:06:13 +0000 Asset Management Corporate Info Corporate Reporting Deals and Transactions Investment Banking Private Banking Swiss Business Banking