Credit Suisse Recognized as 2009 Bank of the Year by International Financing Review
Credit Suisse also Recognized as Structured Equity House and Equity Derivatives House
London, January 14, 2010 Credit Suisse was recognized this week as the “Bank of the Year 2009” by International Financing Review (IFR), a leading investment banking magazine.
In recognizing Credit Suisse, the IFR editors wrote, «Credit Suisse Group can plausibly claim to have come through the biggest downturn in 80 years not just intact, but even with its reputation and its business enhanced.» The editors pointed out the result of our client-focused, capital-efficient strategy, «has been a strong upward trajectory across a host of client-facing businesses.» Other areas were also highlighted in granting Credit Suisse this award, including: emerging from the financial crisis with some of the best financial ratios in the industry, including its Tier 1 ratio and high return on equity; its decisive actions dealing with illiquid assets; and its responsible use of the Partner Asset Facility as part of its compensation plan.
Commenting on the awards at the IFR Awards Dinner held at Grosvenor House in London on January 12, Brady W. Dougan, CEO of Credit Suisse said, «These awards validate the results of our client-focused, capital efficient strategy. We recognize the changed global economic environment and have sought to cultivate a culture that is more in step with the changes that are impacting our industry across all of our stakeholders. We are grateful for the continued support of our clients, shareholders and employees, without whom these awards would not have been possible.»
IFR also recognized Credit Suisse’s Equities franchise with two global product awards: Structured Equities and Equity Derivatives. In naming Credit Suisse the “Structured Equity House of the Year,” the editors wrote, «The fact that Credit Suisse maintained traders, sales and originators for convertibles was reflected in the business it did globally, and its ability to find solutions and price them correctly.» The Bank was also recognized as the “Best Structured Equity House for Asia Pacific” in addition to the global award. In the accolades for the “Equity Derivatives House of the Year”, the editors noted, «At a time of fundamental shift in appetite from those clients, who wanted continued liquidity in simpler, less exotic products, the bank was unique in the way it responded so comprehensively – and rapidly – to the new reality.»
In addition, Credit Suisse was pleased to see many of its clients recognized in the awards in the Deals of the Year and Issuer of the Year categories.
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- Credit Suisse AG
- Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 47,400 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, 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.