The company was one of the least affected banks during the global financial crisis, but afterwards began shrinking its investment business, executing layoffs and cutting costs. The biggest institutional shareholders of Credit Suisse include the Qatar Investment Authority and BlackRock (about 5% each), the US mutual fund providers Harris Associates (the largest shareholder as of August 2022, with 10.1%) and Dodge & Cox, the central bank of Norway and the Saudi Arabian Olayan Group. From 1990 to 2000, the company purchased institutions such as Winterthur Group, Swiss Volksbank, Swiss American Securities Inc. Credit Suisse partnered with First Boston in 1978 before buying a controlling share of the bank in 1988. In the 1900s, it began shifting to retail banking in response to the elevation of the middle class and competition from fellow Swiss banks UBS and Julius Bär. It issued loans that helped create Switzerland's electrical grid and the European rail system.
Credit Suisse is also primary dealer and Forex counterparty of the Fed.Ĭredit Suisse was founded in 1856 to fund the development of Switzerland's rail system. The Financial Stability Board considers it to be a global systemically important bank. It is known for strict bank–client confidentiality and banking secrecy. Headquartered in Zürich, it maintains offices in all major financial centers around the world and is one of the nine global " Bulge Bracket" banks providing services in investment banking, private banking, asset management, and shared services. Credit Suisse Group AG is a global investment bank and financial services firm founded and based in Switzerland.
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