It all began with Swiss railroads in 1856, when the country needed to finance the expansion of its network and (the forerunner of) Credit Suisse, (Schweizerische Kreditanstalt), was founded. The bank has since turned into an integrated bank operating in over 50 countries around the world.
On July 5, 1856, the prominent politician, business leader, and pioneer Alfred Escher founded "Schweizerische Kreditanstalt". The original purpose of the new bank was to finance the expansion of the railroad network (e.g. the Nordostbahn/North-East Railway) as well as further industrialization in Switzerland. The founding of the company was a huge success: Initial stock was issued with a value of three million francs, but within just three days the total value of subscriptions amounted to 218 million francs.
This success story continued over the next century and a half, with Credit Suisse gradually evolving into a leading global provider of financial services. On the one hand, this was achieved through strong organic growth, but it was also supplemented by a series of significant mergers and acquisitions. This involved the amalgamation of very different cultures, philosophies, and spheres of specialist knowledge to create a strong integrated bank.
On July 16, 1856, the Schweizerische Kreditanstalt (SKA) founded by Alfred Escher, the predecessor to today's Credit Suisse, opens for business. Alfred Escher heads the SKA as the first Chairman of the Board of Directors from 1856-1877 and from 1880-1882.
1856The first Credit Suisse foreign representative office is established in New York.
1870After a construction period of three years, SKA moves into the new building on Paradeplatz, which was designed by the famous architect Jakob Friedrich Wanner, on September 25, 1876.
1876From the end of the 19th century, SKA plays a leading role in the Swiss underwriting and syndication business. It has the opportunity more often than the competition to be the key player in underwriting syndicates.
1890The Board of Directors of the SKA creates a pension fund, which provides its employees with benefits after their retirement. In 1919 the SKA creates a pension fund in the form of a cooperative.
1897Credit Suisse takes over the office of Oberrheinische Bank in Basel in 1905, resulting in the opening of the first Credit Suisse branch outside Zurich.
1905SKA opens a representative office in Paris for its international safekeeping account clients.
1910The First Boston Corporation is founded as a subsidiary of The First National Bank of Boston. In 1934 the First Boston Corporation becomes the first publicly held investment bank in the US.
1932In July 1939 SKA creates the subsidiary Swiss American Corporation (New York), which focuses on the underwriting and investment business, as well as investment consultancy.
1939SKA opens the New York Agency on May 9, 1940.
1940Credit Suisse takes over White, Weld and Co. AG, Zurich, from the American investment bank, White Weld, New York. The acquisition is re-named Clariden Finanz AG.
1962Credit Suisse is granted a license as a full-service bank, allowing it to take deposits and carry out all other types of banking in the USA..
1964The merger with the Schweizerische Bodenkreditanstalt marks the first major step toward growth in mass business and represents a substantial expansion of the sales network and client base.
1976The Chiasso affair resulted in the biggest loss SKA had suffered in its entire history. The crisis prompted the bank to strike out for new shores and transform itself from a traditional Zurich institution into an international financial services provider.
1977Swiss American Securities Inc. (SASI), a subsidiary of SKA which was founded in the 1970s, becomes a member of the New York Stock Exchange in November 1982. Thus SKA becomes the first Swiss bank to have a place on the New York Stock Exchange via its subsidiary.
1982First Boston Inc. becomes CS First Boston with a takeover of 44.5% of CS First Boston by CS Holding. 1990 sees a takeover of a majority holding of CS First Boston.
1988CS Holding, set up in 1982 as a sister company to SKA, becomes the parent company of the Group.
1989Acquisition of Bank Leu.
1990Acquisition of Swiss Volksbank.
1993Launch of strategic alliance with Swiss Re.
1994Takeover of Neue Aargauer Bank (NAB).
1995CS Holding becomes Credit Suisse Group, and begins operational activities on January 1, 1997.
1997Group organizational structure is streamlined to create two business units: Credit Suisse Financial Services and Credit Suisse First Boston.
2002Group organizational structure is realigned to form three business units: Credit Suisse, Credit Suisse First Boston and Winterthur.
2004Credit Suisse implements its One Bank strategy by merging its Credit Suisse legal entities in Switzerland with Credit Suisse First Boston.
2005Credit Suisse celebrates its 150th anniversary. At the same time it begins life as a globally integrated bank. In keeping with its new status it launches a new logo.
2006Merger of the four independent Credit Suisse private banks, Clariden, Bank Leu, Bank Hofmann, and Banca di Gestione Patrimoniale to form Clariden Leu.
2007The most severe global financial crisis in recent times hits the bank, which does not need a government bailout.
2008Swiss government issues a report on how to address the "Too Big to Fail" issues relating to big banks, paving the way for tougher capital and liquidity requirements.
2010The Private Banking and Asset Management divisions are merged into a new, single Private Banking & Wealth Management division.
2012Credit Suisse acquires Morgan Stanley's Private Wealth Management business in EMEA, excluding Switzerland.
2013Credit Suisse reaches a final settlement with the US on all outstanding US cross-border matters.
2014