Credit Suisse is a Swiss multinational investment bank and financial services company headquartered in Zurich, Switzerland. Founded in 1856, it is one of the oldest and largest banks in the world, with a presence in over 50 countries and employing over 48,000 people.
Credit Suisse offers its clients a range of financial services, including investment banking, private banking, and asset management. It has a strong reputation for its expertise in wealth management, serving high-net-worth individuals, families, and institutions around the globe.
In recent years, Credit Suisse has faced several challenges, including legal issues, scandals, and financial losses. In 2020, the bank reported a net loss of CHF 353 million ($390 million) due to significant losses related to the collapse of Archegos Capital Management and the Greensill Capital scandal.
In response to these challenges, Credit Suisse has announced a restructuring plan to improve its risk management and profitability. This plan includes reducing its exposure to risky investments, focusing on its core wealth management business, and cutting costs by CHF 400 million ($440 million) by the end of 2022.
