On January 16, 2006, Credit Suisse First Boston (CSFB), now the Investment Banking division, Credit Suisse Asset Management (CSAM), and Credit Suisse Private Banking (CSPB), re-branded themselves, becoming collectively known as Credit Suisse. Shared Services, which includes functions such as IT, marketing and legal/compliance, encompasses all three major areas. The bank is organized into three divisions, Investment Banking, Private Banking, and Asset Management. This was in response to weaker than expected recovery in the US and Europe that had led them to hire too aggressively in the aftermath of the credit crisis in an effort to take market share from weakened rivals. July 2011, Credit Suisse cut 2,000 jobs from their worldwide staff of 50,700 employees in order to maximize cost efficiencies across the bank. The firm's bulge bracket status came after the merger with Donaldson, Lufkin & Jenrette (DLJ). Prior to the DLJ Merger, the Credit Suisse Group (CS) purchased First Boston in 1988 creating CS First Boston. ![]() registered broker-dealer subsidiary, became a subsidiary of DLJ, and DLJ changed its name to CSFB USA. CSFB USA was created through the merger with DLJ, which was completed on Nov. Credit Suisse wrote down US$2.85 billion ĬSFB USA is a wholly owned subsidiary of Credit Suisse First Boston Inc., which is, in turn, a wholly owned subsidiary of CS. 2008 – Credit Suisse suspends some of its traders in connection with the overvaluation of assets by US$2.85 billion.It divests Winterthur to AXA and the newly reorganized Investment Bank replaces the old CSFB. 2006 – Credit Suisse undergoes a rebranding and structural shift to the "One Bank" model.2004 – Focusing the Group's organizational structure on three business units:Credit Suisse, Credit Suisse First Boston and Winterthur. ![]() 2002 – Streamlining of the Group's organizational structure into two business units: Credit Suisse Financial Services and Credit Suisse First Boston.2001 – Sponsorship for the Sauber Petronas Formula One Team. ![]()
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