Credit Suisse Group appoints CIO Karl Landert to the Executive Board
Zurich, June 26, 2009 Credit Suisse Group is pleased to announce that Karl Landert, Chief Information Officer (CIO) of Credit Suisse, has been appointed to the Executive Board with effect from today. As CIO, Mr. Landert is responsible for Credit Suisse's Information Technology (IT) division. In this role he will continue to report to Brady W. Dougan, Chief Executive Officer of Credit Suisse, based in Zurich.
Brady W. Dougan, Chief Executive Officer, said: "This appointment reflects the integral role that IT plays in the Bank's success and recognizes the significant contribution that Karl and his team have made to Credit Suisse by enhancing our IT operations. In the past year alone, Karl has streamlined our IT operations, significantly increased the reliability of our IT processes and built an excellent team. Furthermore, this appointment underscores our firm commitment to building an Executive Board composed of members with a wide range of expertise and experience. Karl has been with the firm for around nine years and, before being appointed as CIO, led the Bank's efforts to build a state-of the-art IT platform for the Private Banking division. We are confident that he will be an extremely valuable addition to our executive management team."
Commenting on his appointment to the Executive Board, Karl Landert said: "I am delighted to have the opportunity to contribute to the growth of Credit Suisse as a member of the Executive Board. I look forward to continuing to work with my team to create an industry-leading IT organization that develops new business opportunities and responds swiftly and efficiently to Credit Suisse's requirements."
Over 10,000 information technology professionals in locations around the world work in close partnership with the businesses to deliver innovative solutions that facilitate business performance and revenue growth.
Karl Landert was appointed CIO of Credit Suisse with effect from March 1, 2008. Prior to this, he was Head of IT for Credit Suisse's Private Banking division and a member of the Private Banking Management Committee. Before joining the Bank in 2001 he held various senior IT management positions at Novartis Pharma AG and previously worked at IBM. Mr. Landert holds a degree in physics from the Swiss Federal Institute of Technology in Zurich.
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- As one of the world's leading banks, Credit Suisse provides its clients with private banking, investment banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 46,700 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Cautionary statement regarding forward-looking information
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act. In addition, in the future we, and others on our behalf, may make statements that constitute forward-looking statements. Such forward-looking statements may include, without limitation, statements relating to the following:
- our plans, objectives or goals;
- our future economic performance or prospects;
- the potential effect on our future performance of certain contingencies; and
- assumptions underlying any such statements.
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- the ability to maintain sufficient liquidity and access capital markets;
- market and interest rate fluctuations;
- the strength of the global economy in general and the strength of the economies of the countries in which we conduct our operations, in particular the risk of a continued US or global economic downturn in 2009 and beyond;
- the direct and indirect impacts of continuing deterioration of subprime and other real estate markets;
- further adverse rating actions by credit rating agencies in respect of structured credit products or other credit-related exposures or of monoline insurers;
- the ability of counterparties to meet their obligations to us;
- the effects of, and changes in, fiscal, monetary, trade and tax policies, and currency fluctuations;
- political and social developments, including war, civil unrest or terrorist activity;
- the possibility of foreign exchange controls, expropriation, nationalization or confiscation of assets in countries in which we conduct our operations;
- operational factors such as systems failure, human error, or the failure to implement procedures properly;
- actions taken by regulators with respect to our business and practices in one or more of the countries in which we conduct our operations;
- the effects of changes in laws, regulations or accounting policies or practices;
- competition in geographic and business areas in which we conduct our operations;
- the ability to retain and recruit qualified personnel;
- the ability to maintain our reputation and promote our brand;
- the ability to increase market share and control expenses;
- technological changes;
- the timely development and acceptance of our new products and services and the perceived overall value of these products and services by users;
- acquisitions, including the ability to integrate acquired businesses successfully, and divestitures, including the ability to sell non-core assets;
- the adverse resolution of litigation and other contingencies;
- the ability to achieve our cost efficiency goals and other cost targets; and
- our success at managing the risks involved in the foregoing.
We caution you that the foregoing list of important factors is not exclusive. When evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties and events, as well as the information set forth in our Form 20-F Item 3 - Key Information - Risk Factors.