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Press Release

Edward Jewell-Tait to join Credit Suisse as Head of Private Banking Australia

Credit Suisse today announced that Edward Jewell-Tait will join the Bank as Managing Director and Head of Private Banking Australia with effect from July 4, 2011. Mr Tait will be based in Sydney and report to David Livingstone, CEO of Australia, and Marcel Kreis, Head of Private Banking Asia Pacific.

Mr. Tait joins Credit Suisse following a 30-year career in the financial markets in Australia, having been in senior management roles in derivatives trading, fund management, investment and private banking, with a record of success in building profitable businesses.

Most recently, Mr. Tait has been Executive Director, Head of Investment Advisory and Distribution, at Caledonia Investments, with responsibilities for business development and acting as investment counsel for selected family accounts. Prior to this, he was Executive General Manager and Head of the Private Client Services Division at the Commonwealth Bank of Australia, overseeing the private banking, stock broking and investment lending businesses. Before joining CBA in 2006, Mr. Tait spent 25 years working at Macquarie Bank, including six years as the Chairman for Western Australia, where he helped establish and develop the Bank’s core operating businesses. At Macquarie, his responsibilities spanned relationship management and transactional advice in project finance, structured finance, mergers and acquisitions, equity and debt capital markets, fund management and private banking.

Commenting on the appointment, Mr. Livingstone said: “Australia is a priority market and Private Banking a priority business for Credit Suisse in this market. Edward will play a major role in driving collaboration with our Investment Banking and Asset Management divisions to offer comprehensive advice to our Private Banking clients. We have and will continue to add senior, talented bankers like Edward in all of our businesses to strengthen our service to clients.”

Mr. Kreis said: “Private Banking is core to Credit Suisse’s business and is an integral part of our global heritage. In Australia, we have built on that strategy to develop a unique, integrated banking business to help our clients grow their wealth for the long term. With his extensive knowledge and experience in the Australian financial industry, we are confident that Edward will provide strong leadership to accelerate the growth of our Private Banking business, building on the initial successes we have achieved in terms of client and asset base as well as brand and reputation.”

In February this year, Euromoney magazine named Credit Suisse the Best Private Bank in Australia, based on the results of its Private Banking Survey 2011, which is a qualitative and quantitative review of the best services in private banking by markets and by areas of service.