Credit Suisse's Polish operations are focused on Investment Banking, Private Banking and a Center of Excellence
- 300 employees employed in Poland in 2011
- Increase in the number of employees with client contact in Private Banking
- Increase in market share on the stockbroking services market
- Sale of a local Asset Management division to Ipopema Securities S.A.
Warsaw, March 15, 2011 – Credit Suisse is increasing its presence in Poland by focusing on Investment Banking and Private Banking divisions, as well as developing its Center of Excellence based in Wrocław. Credit Suisse Asset Management (Polska) S.A. was sold to Ipopema Securities S.A.
According to Michael Rüdiger, Credit Suisse CEO for Central Europe, "Poland remains a key market in our growth strategy for Central Europe. An increase in the number of employees is not only a source of satisfaction for us and evidence of our commitment, it also shows that Credit Suisse has become the preferred employer within the country."
Credit Suisse has announced plans for expanding its recruitment activities in 2011 to increase the importance of the Wroclaw-based Center of Excellence (CoE) – under the global Shared Services strategy. The company plans to increase the number of employees in Wroclaw by one third, from the current 500 employees to a planned 800. In 2010, the number of company employees doubled, reaching the current level of 500 employees. The CoE offers back office services for the company's operations in Europe, North America, and Asia. It is one of the largest banking and financial sector employers in Lower Silesia.
Company growth can also be seen in the Private Banking sector. In 2010, the company received significant assets from its Polish clients. In 2011, Credit Suisse plans further investments in Private Banking by increasing the number of client-care employees.
Credit Suisse also plans to expand its portfolio of services in the investment banking sector by further developing its stockbroking activity, corporate financial consultancy, and financing for corporate clients. Credit Suisse Securities' strong start on the Polish market shows that the new initiative is on the right path to meet its main objective: to become the leader on the Warsaw Stock Exchange. In February, it was the number 2 brokerage firm with a 9.8% share in equities trading.
Credit Suisse has decided to adjust the operations of its Polish Asset Management division to the requirements of the company's current global strategy. Consent was granted to sell 100% of the shares in Credit Suisse Asset Management (Polska) S.A. to Ipopema Securities S.A. The transaction was finalized after receiving clearance from the Polish Financial Supervision Commission and the Polish Competition and Consumer Protection Office.
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. 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 over 50,000 people. The registered shares of Credit Suisse's parent company, Credit Suisse AG, are listed in Switzerland and, in the form of American Depositary Shares, in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Credit Suisse Asset Management (Polska) S.A. (the "Company") is a joint stock company with its registered office in Warsaw at ul. Grójecka 5 (02- 019 Warsaw), entered into the commercial register kept by the Regional Court for the capital city of Warsaw, XIII Commercial Division of the National Court Register under no. KRS 0000026687. The Company's fully paid-up share capital amounts to 5,600,000 PLN. The Company has been issued NIP tax identification number 526-16-18-581. The Company conducts stockbroking activity on the basis of a permit granted by the Polish Securities and Exchange Commission. The Company is subject to supervision by the Polish Financial Supervision Commission. You can find additional information regarding the Company and the services it provides at www.ipopema.pl or at tel.: +48 22 322 51 80.
As of September 30, 2011, Credit Suisse Asset Management (Polska) S.A. is a 100% subsidiary of IPOPEMA Securities S.A., due to which it is no longer associated with Credit Suisse AG and has no connections of a legal or investment nature with Credit Suisse AG or any other company from the Credit Suisse Group. The process of registering the change to the Company's name to IPOPEMA Asset Management S.A. has been initiated.