AEM 222 credit suisse - Jarett Banks JFB39 1848958 AEM222.2...

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Jarett Banks JFB39 1848958 AEM222.2 2-page write-up Credit Suisse April 10, 2008 For over 150 years Credit Suisse was a well known Swiss bank with roots in several types of financial products. In 2002 CEO Lukas Muhlemann was leaving his position at Credit Suisse after greatly extending the bank’s market, and the company had to make several decisions regarding its management and business strategies. Before his departure, Muhlemann turned the mid range consumer bank into a global power house through the use of allfinanz. With this notion of a one-stop shop for all financial services, Credit Suisse held divisions in corporate and retail banking, insurance, private banking, asset banking, and investment banking activities. The corporate an retail banking departments are important to the company, because they provide a rich source of capital. Credit Suisse’s corporate banking division was merged with the investment bank, and the rich source of assets allowed the company to compete with J.P. Morgan. However, the investment bank took many risks, and even lost its Japanese derivatives license for a year after violating protocols. Private banking, once the cornerstone of Swiss finance, recently lost its immunity privileges. Credit Suisse has dropped to a 20% market share after a UBS merger, and the trade must be revitalized. Credit Suisse Asset Management (CSAM) is a steady source of income, and the company had recently benefitted from key global acquisitions. Unfortunately, many industry experts are weary of CSAM and its ability to merge a medley of organizations into one functional unit. The retail banking division at Credit Suisse has been in terrible debt since 1990, cutting 3,500 jobs and over a
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This note was uploaded on 01/21/2009 for the course AEM 2220 taught by Professor Perez,p.d. during the Spring '06 term at Cornell University (Engineering School).

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AEM 222 credit suisse - Jarett Banks JFB39 1848958 AEM222.2...

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