Credit Suisse has two divisions, Private Banking & Wealth Management and Investment Banking. A shared services service provides support functions such as risk management, legal, IT, and marketing for all areas. The activities are divided into four regions: Switzerland, Europe, the Middle East as well as Africa, America and the Asia-Pacific region. Credit Suisse Private Banking is engaged in wealth management, corporate and institutional activities. Credit Suisse Investment Banking handles securities, investment research, trading, blue chip brokerage and capital raising. Credit Suisse Asset Management sells asset classes, alternative investments, real estate, equities, bond and other financial products. [15] Following Swiss sanctions against Russia during Russia`s 2022 invasion of Ukraine, Credit Suisse issued legal demands calling on hedge funds and other investors to destroy documents linking Russian oligarchs to yacht loans, a decision for which it has received much criticism. [139] The U.S. House of Representatives Oversight Committee launched an investigation into the company and requested documents relating to the bank`s compliance with sanctions against Russian oligarchs.

[140] Below is a simplified organizational chart for legal entities. The chart provides information about Credit Suisse Group AG and Credit Suisse AG. The graph also provides an overview of the ownership of several large operating subsidiaries. In August 2022, it was learned that Credit Suisse`s largest shareholder was actually American, namely Harris Associates, which owns more than 10% of the group`s shares. Harris Associates itself is owned by the French bank Natixis. [16] On January 24, 2020, following the trial, the group of climate activists issued a press release calling for a transparent and televised debate with the CEO of Credit Suisse. According to the Wall Street Journal in 2008, “Credit Suisse weathered the credit crunch better than many of its competitors.” [50] Credit Suisse wrote down $902 million on subprime mortgages and the same amount on leveraged loans,[56] but did not have to borrow from the government. [57] In collaboration with other banks, Credit Suisse was investigated and sued by U.S. authorities in 2012 for bundling mortgages with securities and distorting the risks of underlying mortgages during the housing boom. [58] [59] After the crisis, Credit Suisse reduced assets by more than a trillion and planned to reduce its investment banking arm by 37% by 2014. It reduced the focus on investment banking and focused on private banking and wealth management.

[60] [61] In July 2011, Credit Suisse cut 2,000 jobs in response to a weaker-than-expected economic recovery[62] and then merged its asset management with Private Bank Group to reduce additional costs. [63] According to a 2011 seekingAlpha article, Credit Suisse investment managers prefer stocks in the financial, technology and energy sectors. [94] The bank`s head of equity investments in Europe said the team focused on “value with a focus on free cash flow.” She is also interested in companies that undergo changes in direction that can affect stock prices. [95] According to an article in the Wall Street Journal, the head of Credit Suisse`s International Focus Fund only manages a portfolio of 40 to 50 stocks instead of the industry standard of more than 100. [96] Credit Suisse publishes its investment advice in four publications: Compass, Viewpoints, Research and the Credit Suisse Investment Committee Report. [97] We sell [banking] security, not banking secrecy. Being a safe haven in a world that is becoming increasingly dangerous and volatile is not a bad place. In the early 2000s, a number of international investigations were conducted into the use of bank secrecy in Credit Suisse accounts for tax evasion purposes. In 2008, the Brazilian government examined 13 current and former Credit Suisse employees. [18] The investigation led to arrests in the same year and in 2009 as part of a major crackdown in Brazil. [65] [66] Four Credit Suisse bankers were charged with fraud by the U.S. Department of Justice in 2011 for helping wealthy Americans avoid taxes.

[67] [68] In 2012, German authorities found that citizens were using the insurance policies of a Bermuda-based subsidiary of Credit Suisse to receive tax-exempt interest. [69] In November 2012, Credit Suisse`s wealth management division merged with the Private Banking division. [70] In September 2012, the Swiss government granted banks such as Credit Suisse permission to provide information to the U.S. Department of Justice for tax evasion investigations. [71] In February 2014, it agreed to pay a $197 million fine after one of its companies served 8,500 U.S. customers without registering its business, leading to suspicions about whether it was helping Americans evade tax. It was one of 14 Swiss banks under investigation. [72] Furthermore, in 2013, German authorities began investigating Credit Suisse, its private banking subsidiary Clariden Leu and its regional subsidiary Neue Aargauer Bank for helping German citizens evade tax fraud.

[73] In 2012, the Bank finally reached a EUR 150 million settlement with the government. [74] In the late 1800s, Credit Suisse established banking and insurance companies in Germany, Brussels, Geneva and others (under the name SKA International) with the bank as a shareholder in each company. She has created insurance companies such as Swiss RE, Swiss Life (aka Rentenanstalt) and Switzerland. Credit Suisse had its first unprofitable year in 1886, due to losses in agriculture, venture capital investments, commodities and international trade.