credit-suisse annual review part 5 consolidated results income statement balance sheet off-balance...
TRANSCRIPT
ANNUAL REVIEW 2000 PART V
CONSOLIDATED RESULTS
MANAGEMENT
PART I
2 Financial highlights 2000
4 Editorial
PART II
6 An overview of Credit Suisse Group8 Strategic review
12 Organisation14 Financial review
PART III
18 Review of business units 20 Credit Suisse Financial Services26 Credit Suisse Private Banking29 Credit Suisse Asset Management 32 Credit Suisse First Boston
36 Risk management
PART IV
38 Our broader responsibilities
PART V
44 Consolidated results 46 Income statement47 Balance sheet48 Off-balance sheet business48 Selected notes to the consolidated financial
statements
52 Management
57 Main offices
58 Information for investors
www.credit-suisse.com 45
CONSOLIDATED RESULTS
Income statementInterest and discount incomeInterest and dividend income from trading portfoliosInterest and dividend income from financial investments Interest expenses
Net interest income
Commission income from lending activitiesCommissions from securities and investment transactionsCommissions from other servicesCommission expenses
Net commission and service fee income
Net trading income
Premiums earned, netClaims incurred and actuarial provisionsCommission expenses, netInvestment income from the insurance business
Net income from the insurance business
Income from the sale of financial investmentsIncome from investment activities– of which from participations valued according to the equity method– of which from other non-consolidated participationsReal estate incomeSundry ordinary incomeSundry ordinary expenses
Other ordinary income/expenses, net
Operating income
Personnel expensesOther operating expenses
Operating expenses
Gross operating profit
Depreciation and write-offs on non-current assetsAmortisation of goodwillValuation adjustments, provisions and losses from the banking business
Depreciation, valuation adjustments, losses
Profit before extraordinary items, taxes and minority interests
Extraordinary incomeExtraordinary expensesTaxes
Profit before minority interests
Minority interests
Net profit
1) Consistent with the presentation of 2000 figures, interest income and expenses have each been restated by CHF 2,242 m.2) Consistent with the presentation of 2000 figures, CHF 185 m has been reclassified from interest and dividend income from financial investments to interest and
discount income.
Previouslyreported
1999in CHF m
19,3804,127
471) (18,726
5,252
59410,523
393) (640
10,870
6,578
26,203) (27,120) (2,157
8,134
5,060
505124952933
703) (1,255
) 110
27,870
13,5095,229
18,738
9,132
937108
1,540
2,585
6,547
93) (152) (1,149
5,339
) (118
5,221
Change to previously
reportedin %
1) 2) 5642
2) 50) 1) 68
1
215270
) 30
53
34
9) 7) (2
4
22
10375
109(3832477
) 80
232
34
3727
34
32
61128(18
17
38
13) –) 17
13
) 101
11
)
)
)
New basis1999
in CHF m
19,3804,127
471) (18,640
5,338
59410,504
393) (635
10,856
6,578
26,146) (26,893) (1,743
6,656
4,166
50590781224
574) (1,487
(294
26,644
13,5545,227
18,781
7,863
981110
1,540
2,631
5,232
93) (152) (855
4,318
) (68
4,250
2000in CHF m
30,1815,865
706(31,439
5,313
71716,039
669(829
16,596
8,791
28,690(28,900(2,1138,489
6,166
1,02321719918
1401,243
(2,258
365
37,231
18,5036,645
25,148
12,083
1,510246
1,265
3,021
9,062
105(1,796(1,349
6,022
(237
5,785
46
Balance sheetAssetsCash and other liquid assets Money market papersDue from banksReceivables from the insurance businessDue from customers MortgagesSecurities and precious metals trading portfoliosFinancial investments from the banking businessInvestments from the insurance businessNon-consolidated participationsTangible fixed assetsIntangible assetsAccrued income and prepaid expensesOther assets
Total assets
Total subordinated assetsTotal due from non-consolidated participations
Liabilities and shareholders’ equityMoney market papers issuedDue to banksPayables from the insurance businessDue to customers in savings and investment depositsDue to customers, otherMedium-term notes (cash bonds)Bonds and mortgage-backed bonds Accrued expenses and deferred income Other liabilitiesValuation adjustments and provisionsTechnical provisions for the insurance business
Total liabilities
Reserve for general banking risksShare capital Capital reserveRevaluation reserves from the insurance businessReserve for own sharesRetained earnings Minority interestsNet profit
Total shareholders’ equity
Total liabilities and shareholders’ equity
Total subordinated liabilitiesTotal liabilities due to non-consolidated participations
Change topreviously
reportedin %
(74
4853387
5736130
456798123
37
172(17
58141
(1117
(173788105323
37
91070
(310
1844711
27
37
204
Previouslyreported
31 Dec. 1999in CHF m
3,14128,994
164,9016,457
104,93186,553
126,74618,828
117,2221,8236,8282,9909,023
44,309
722,746
1,792928
22,120198,324
6,26844,007
182,2493,885
47,90514,91652,5778,566
107,561
688,378
2,1315,444
11,6966,977
600552
1,7475,221
34,368
722,746
18,194749
)
)
)
)
)
New basis31 Dec. 1999
in CHF m
3,14128,994
164,8837,152
104,93177,763
126,74618,828
117,7711,7899,0114,737
11,81451,462
729,022
1,792928
22,120198,843
6,35544,007
182,0823,884
46,66914,95251,22714,219
113,981
698,339
2,1315,444
11,7005,515
600(111)1,1544,250
30,683
729,022
17,898749
31 Dec. 2000in CHF m
2,92830,127
243,6929,871
145,25792,432
198,91725,574
132,6321,8299,913
23,29916,29454,668
987,433
4,876771
23,176359,441
8,80739,233
213,5493,225
65,52428,02157,65313,107
132,175
943,911
2,3196,009
19,8824,789
6001,5672,5715,785
43,522
987,433
21,801779
www.credit-suisse.com 47
CONSOLIDATED RESULTS
Off-balance sheet businessContingent liabilitiesCredit guarantees in form of avals, guarantees
and indemnity liabilities Bid bonds, delivery and performance bonds,
letters of indemnity, other performance-related guarantees Irrevocable commitments in respect of documentary credits Other contingent liabilities
Total contingent liabilities
Irrevocable commitments
Liabilities for calls on shares and other equity
Confirmed credits
Fiduciary transactions
Derivative instrumentsInterest rate productsForeign exchange productsPrecious metals productsEquity/index-related productsOther products
Total derivative instruments
Changein %
4
) (8) (3
30
5
5
510
) (34
12
New basis31 Dec. 1999Negative gross
replacementvalue
in CHF bn
59.928.01.9
24.10.7
114.6
))
)
Changein CHF m
258
(438(82
1,156
894
6,438
255
(76
4,603
New basis31 Dec. 1999Positive gross
replacementvalue
in CHF bn
62.125.32.1
22.60.8
112.9
31 Dec. 1999in CHF m
6,755
5,2623,2243,870
19,111
120,560
50
226
37,371
New basis31 Dec. 1999
Nominalvalue
in CHF bn
5,781.51,069.3
28.8438.825.3
7,343.7
31 Dec. 2000in CHF m
7,013
4,8243,1425,026
20,005
126,998
305
150
41,974
31 Dec. 2000Negative gross
replacementvalue
in CHF bn
66.332.12.0
18.13.3
121.8
31 Dec. 2000Positive gross
replacementvalue
in CHF bn
66.430.41.5
15.22.7
116.2
31 Dec. 2000Nominal
valuein CHF bn
5,793.31,139.4
34.8473.980.4
7,521.8
Selected notes to the consolidated financial statements
USD translation ratesIncome statementBalance sheet
Securities and precious metals trading portfoliosDebt instruments
– listed on stock exchange– unlisted
– of which own bonds and medium-term notesEquity instruments– of which own sharesPrecious metals
Total securities and precious metals trading portfolios
– of which securities rediscountable or pledgeable at central banks
1999
1.49001.5979
Changein %
6229
11845450
1203
57
68
2000
1.67001.6346
Changein CHF m
49,72614,22635,500
68622,3834,082
62
72,171
29,321
31 Dec. 1999in CHF m
79,63649,45830,178
15145,1523,3921,958
126,746
43,297
31 Dec. 2000in CHF m
129,36263,68465,678
83767,5357,4742,020
198,917
72,618
48
Split of income statement: banking/insurance1)
Net interest income Net commission and service incomeNet trading incomeIncome from insurance businessOther ordinary income (/expenses), net
Operating income
Personnel expenses Other operating expenses
Operating expenses
Gross operating profit
Depreciation and write-offs on non-current assetsAmortisation of goodwillValuation adjustments, provisions and losses
Depreciation, valuation adjustments, losses
Profit before extraordinary items,taxes and minority interests
Extraordinary incomeExtraordinary expensesTaxes
Net profit before minority interests
Minority interests
Net profit
1) Income statements for banking and insurance business are presented on a stand-alone basis.2) Expenses from the handling of both claims and investments are allocated to the income from insurance business, of which CHF 525 m (new basis 1999: CHF 511 m;
previously reported 1999: CHF 618 m) are related to personnel expenses and CHF 355 m (new basis 1999: CHF 579 m; previously reported 1999: CHF 487 m) toother operating expenses.
Banking business TotalInsurance business
2000in CHF m
5,23916,6298,791
01,046
31,705
16,4995,279
21,778
9,927
1,249215
1,265
2,729
7,198
105(1,796
(943
4,564
(91
4,473
1999in CHF m
5,25210,8706,578
0577
23,277
11,7544,026
15,780
7,497
828101
1,540
2,469
5,028
93) (152) (809
4,160
) (28
4,132
2000in CHF m
000
6,197(666
5,531
2,0041,366
3,370
2,161
261310
292
1,869
0) 0) (406
1,463
) (146
1,317
New basis1999
in CHF m
000
2) 4,226) (853
3,3732) 1,8002) 1,201
3,001
372
15390
162
210
00
) (45
165
) (40
125
2000in CHF m
5,31316,5968,791
2) 6,166) 365
37,2312) 18,5032) 6,645
25,148
12,083
1,510246
1,265
3,021
9,062
105(1,796
) (1,349
6,022
) (237
5,785
New basis1999
in CHF m
5,33810,8566,5784,166(294
26,644
13,5545,227
18,781
7,863
981110
1,540
2,631
5,232
93) (152) (855
4,318
) (68
4,250
Previouslyreported
1999in CHF m
5,25210,8706,5785,060
) 110
27,870
13,5095,229
18,738
9,132
937108
1,540
2,585
6,547
93) (152)) (1,149)
5,339
) (118)
5,221
Previously reported
1999in CHF m
000
2) 5,060) (467
4,5932) 1,7552) 1,203
2,958
1,635
10970
116
1,519
00
) (340
1,179
) (90
1,089
Statement of shareholders’ equityTotal shareholders’ equity at beginning of financial yearReclassification from valuation adjustments and provisions(Release/) allocation of reserves for general banking risks, netDividends paidCapital increases, par value and capital surplusCapital increases, minority interestsAcquisition of minority interestsChanges in scope of consolidation affecting minority interestsConsolidation of previously not-fully-consolidated subsidiariesForeign exchange differencesChange in revaluation reserve from the insurance business, netMinimum pension liability adjustmentMinority interests in net profitNet profit
Total shareholders’ equity at end of financial year
1) Numbers are not comparable to those published in 1999, as minority interests have been combined in one line item.
1) Change topreviously
reportedin %
9100128
) 39--
) (100)(16)
) (100)(154)(150)
-10111
27
Previouslyreported
1999in CHF m
28,1623
80) (1,430
7593
) (1,015226(71
1,313) 999
0118
5,221
34,368
New basis1999
in CHF m
26,5603
80) (1,430
7633
) (643226
0) 1,318) (516
168
4,250
30,683
2000in CHF m
30,6836
182(1,9868,716
911(1
1900
(703(496
(2)237
5,785
43,522
www.credit-suisse.com 49
Fair ValueNew basis1)
Dec. 1999in CHF m
16,59344,193
60,786
7,04822,199
29,247
2,2097,903
10,112
CONSOLIDATED RESULTS
Investments from the insurance businessDebt instruments 1)
Non-lifeLife
Total debt instruments
Equity instumentsNon-lifeLife
Total equity instruments
MortgagesNon-lifeLife
Total mortgages
Real estateNon-lifeLife
Total real estate
LoansNon-lifeLife
Total loans
Short-term investmentsNon-lifeLife
Total short-term investments
Non-consolidated participationsNon-lifeLife
Total non-consolidated participations
Investments where investment risk is borne by the policyholder
Equity instrumentsDebt instruments and loans Short-term investments Real estate
Total investments where investment risk is borne by the policyholder
Total investments (insurance view)
Less bonds, loans issued by group companies, non-consolidated participations and own used real estate not included in the investments from the insurance business
Less mortgages, previously not included ininvestments from the insurance business
Total investments from the insurance business
1) Cost column balance represent amortised costs.2) In previously reported 1999 financial statements, loans were reported together with debt instruments.
New basis31 Dec. 1999
in CHF m
16,59344,193
60,786
7,04822,199
29,247
2,2097,903
10,112
n/an/a
n/a
3131 Dec. 2000in CHF m
17,48047,586
65,066
6,52925,248
31,777
2,1768,182
10,358
New basis31 Dec. 1999
in CHF m
16,40543,149
59,554
4,62414,013
18,637
1,9427,114
9,056
31 Dec. 2000in CHF m
17,18146,510
63,691
5,02519,127
24,152
1,8827,139
9,021
)
)
New basis31 Dec. 1999
in CHF m
16,59344,193
60,786
7,04822,199
29,247
1,3357,442
8,777
1,6605,775
7,435
1364,307
4,443
1,270407
1,677
31585
400
5,360988918104
7,370
120,135
) (2,364
117,771
Previouslyreported
31 Dec. 1999in CHF m
2) 16,5922) 48,477
65,069
7,13723,621
30,758
1,3367,454
8,790
4,1768,839
13,015
2) 02) 0
0
1,201477
1,678
34787
434
4,912788898104
6,702
126,446
) (434
(8,790
117,222
31 Dec. 2000in CHF m
17,48047,586
65,066
6,52925,248
31,777
1,8697,555
9,424
1,5855,773
7,358
1544,324
4,478
1,8581,590
3,448
192205
397
10,1361,2331,402
118
12,889
134,837
(2,205
132,632
Book Value Cost Market Value
50
Risk commentary
During the year 2000, Credit SuisseGroup continued to focus on improv-ing the risk/return characteristics ofits businesses. The associated effortshave been particularly pronounced atCredit Suisse First Boston, where riskreductions in emerging market andreal-estate exposures have offsetmost of the impact of the acquisitionof Donaldson, Lufkin & Jenrette.
Trading exposures at Credit Suisse First BostonTwo developments characterise theevolution of Credit Suisse FirstBoston’s Value-at-Risk (VaR) over thecourse of the year. First, Credit SuisseFirst Boston maintained a disciplinedapproach and held its level of marketrisk stable over the year, even whileabsorbing the impact of DLJ activitiesin the fourth quarter of 2000. Second,effective 31 May 2000, the SwissFederal Banking Commission ap-proved the revised VaR model for usein the calculation of market risk capital.As illustrated by the backtesting chart,the methodology change has reducedthe degree of extreme model conser-vatism without affecting the conserva-tive nature of the VaR model (actualtrading results are well within the VaRband even after the adoption of therevised model).
Asset qualityDriven by the Group’s selectivityregarding counterparties, the overallasset quality of Credit Suisse Groupremains solid – with approximately80% of exposures falling to invest-ment grade or equivalently-rated coun-terparties. Concentration risks arestrictly limited – for instance, expo-sures to the telecom sector amountedto only 3.5% of total credit exposuresat year end 2000 – and provisioninglevels are stable.
Asset quality credit exposure & provisions developmentNon-performing loans (NPLs) 1)
Capital provisions against NPLs 2)
Coverage ratio of NPLs31.12.200031.12.1999NPLs as percentage of credit exposure31.12.200031.12.1999
1) Includes loans and loan equivalents.2) Excludes total interest of CHF 1,906 m (fully provided).
113,4131,8198,889,7
CreditSuisseGroup
31 Dec. 2000 in CHF m
9,8266,191
63%63%
2.40%3.40%
4,1
113,5
201,9
CreditSuisse
FirstBoston
31 Dec. 2000 in CHF m
1,479989
67%84%
0.60%0.90%
CreditSuissePrivate
Banking31 Dec. 2000
in CHF m
11160
54%75%
0.30%0.30%
1st quarter 2000 2nd quarter 2000 3rd quarter 2000 4th quarter 2000
Daily revenueOne-day VaR (99%)
–250
–200
–150
–100
–50
0
50
Relationship between daily revenue and VaR estimate for Credit Suisse First Boston
CreditSuisse
FinancialServices
31 Dec. 2000 in CHF m
8,2365,142
62%60%
6.50%8.70%
Trading book riskat CSFB – 99% 1 day VaRPeriod endAverageMaximumMinimum
1999in USD m
113.4131.8198.889.7
2000in USD m
84.1113.5201.975.5
in USD m
www.credit-suisse.com 51
MANAGEMENT
Board of Directors of Credit Suisse Group
Lukas Mühlemannborn 1950 Chairman since May 2000, Chief ExecutiveOfficer of Credit Suisse Group since January1997
Peter Brabeck-Letmathe1)
born 1944 Vice-Chairman, Chief Executive Officer andDirector of Nestlé SA, Vevey
Thomas W. Bechtler 2)
born 1949 Chairman of the Board of Directors of Zellweger Luwa Group, Uster
Marc-Henri Chaudet 2)
born 1936 Attorney-at-law
Gerald Clark 2)
born 1943 Vice-Chairman of the Board and ChiefInvestment Officer of Metropolitan Life Insurance Company, New York
Walter B. Kielholz 2)
born 1951Chief Executive Officer and Director of Swiss Re, Zurich
Thomas Schmidheiny born 1945Chairman of the Board of Directors and Managing Director of Holderbank Financière Glaris Ltd., Jona
Vreni Spoerryborn 1938 Member of the Swiss Council of States
Aziz R. D. Syriani 1)
born 1942 President of The Olayan Group, Athens
Daniel L. Vasella1)
born 1953 Chairman and Chief Executive Officer of Novartis International AG, Basle
Corporate SecretaryPierre Schreiber
Independent AuditorsKPMG Klynveld Peat Marwick Goerdeler SA, Zurich
Honorary ChairmanRainer E. Gut
Members of the Board of Directors of Credit Suisse Group until their retirement on 1 June 2001
Philippe Bruggisser, WohlenArthur W. Dunkel, Former General ManagerGATT, GenevaJohn M. Hennessy, Chairman Private EquityCredit Suisse First Boston, New YorkLionel I. Pincus, Chairman and Chief ExecutiveOfficer E. M. Warburg, Pincus & Co. LLC, New York
The Board of Directors and the Executive Boardwould like to thank the retiring Members for theirconsiderable commitment to Credit Suisse Group.
1) Member of the Compensation and AppointmentsCommittee, chaired by Peter Brabeck-Letmathe.
2) Member of the Audit Committee, chaired by Walter B. Kielholz.
About the Board and its Committees
The Board: Credit Suisse Group’sBoard of Directors meets at least sixtimes a year. Being responsible for theoverall direction, supervision and con-trol of the company, the Board reviewsthe Group’s competitive position andapproves strategy and financial plans.The Board reviews reports on the oper-ations of the Group with a particularfocus on risk management and expo-sure. It reviews significant changes inthe Group’s structure and organisation.It also assesses the performance of theGroup Executive Board and discussessuccession plans for key managers.The Board is actively involved in theGroup’s major projects including acqui-sitions, divestitures and major invest-ments. As of June 2001, with theexception of the Chairman, all Boardmembers are non-employee directors,appointed by the shareholders for aperiod of four years.
Committees of the Board (effective 1 June 2001): The Board has tworegular committees, the AuditCommittee and the Compensation andAppointments Committee, whosemembers are non-executive directorsand are appointed for one year. In addi-tion, the Board may from time to timedelegate certain tasks to a Chairman’sCommittee, consisting of the Chairmanand the two Chairmen of the regularcommittees to allow an efficient andexpedient handling of urgent matters.
The Audit Committee consists of aminimum of three members and holdsat least four regular meetings eachyear. Its duties and responsibilities in-clude the review of the annual reportand the annual financial statements,the review of relevant reports submittedto regulators, reports by internal andexternal auditors, the annual auditplans as well as the assessment of theaudit, risk management and group
compliance functions. Moreover, thecommittee is regularly informed aboutlegal, compliance and regulatory mat-ters. The Committee Chairman regular-ly reports to the full Board about thecommittee’s activities and findings.
The Compensation and Appoint-ments Committee consists of a mini-mum of three members. In at least tworegular meetings per year, the commit-tee determines the compensationpayable to the members of the Groupand Business Unit Executive Boardsand other senior managers and ap-proves compensation plans. The com-mittee also reviews and proposesGroup Executive Board appointmentsto the Board of Directors and evaluatesBoard and Committee membershipsfor final approval by the shareholdersand the full Board, respectively. TheCommittee Chairman regularly reportsto the full Board about the committee’sactivities.
52
Executive Board of Credit Suisse Group
Lukas Mühlemann born 1950Chairman and Chief Executive Officer
Oswald J. Grübelborn 1943
Chief Executive OfficerCredit Suisse Private Banking
Thomas Wellauerborn 1955
Chief Executive Officer Credit Suisse Financial Services
Rolf Dörig born 1957 Chief Executive Officer Credit Suisse Banking
Allen D. Wheatborn 1948Chief Executive OfficerCredit Suisse First Boston
Richard E. Thornburghborn 1952Vice-Chairman of the Executive Board Credit Suisse First Boston
Phillip M. Colebatchborn 1944
Chief Executive Officer Credit Suisse Asset Management
Hans-Ulrich Doerigborn 1940 Vice-Chairman of the ExecutiveBoard and Chief Risk Officer
Philip K. Ryanborn 1956Chief Financial Officer
www.credit-suisse.com 53
MANAGEMENT
Senior Management of the Business Units
Credit Suisse Financial Services
Thomas Wellauer, Chief Executive Officer
Erwin W. Heri, Chief Financial Officer
Wolfgang Schmidt-Soelch 1), Corporate Development
Urs Hofmann 1), Human Resources
Hansjörg Frei 1), Country Management
Manfred Broska, Chief Executive OfficerWinterthur Insurance
Markus Dennler, Chief Executive Officer Winterthur Life & Pensions
Rolf Dörig, Chief Executive Officer Credit Suisse Banking
Olivier Steimer, Chief Executive Officer Credit Suisse Personal Finance
Hanspeter Kurzmeyer, Chief Executive OfficerCredit Suisse e-Business
Ulrich Körner, Chief Executive Officer Technology and Services
1) Member of the Extended Executive Board of Credit Suisse Financial Services.
Credit Suisse Banking
Rolf Dörig, Chief Executive Officer
Rolf Aeberli, Chief Financial Officer
Dominique Folletête, Private Clients
Martin Wetter, Corporate Clients
Bruno B. Pfister, Products
Martin Senn, Trading- and Investment Services
Franz-Josef Groth, Credit Management
Walter Fluck, Credit Recovery
Bruno Bohlhalter, Credit Recovery
Josef Meier, Neue Aargauer Bank
54
Credit Suisse Personal Finance
Olivier Steimer, Chief Executive Officer
Richard Lütolf, Chief Financial Officer
Paolo F. Lanzoni, Italy
Pablo Toja Aguirre, Spain
Michael M. Rüdiger, Germany
Antoine Bordelais, United Kingdom
Patrick Nosten 1), France
1) From 1 April 2001.
Credit Suisse e-Business
Hanspeter Kurzmeyer, Chief Executive Officer
Christoph Brunner, Chief Financial Officer
Romeo Lacher, e-Channels Switzerland
Jürgen Pulm, e-Channels Europe
Fadi Joseph Karam a.i., e-Insurance
Jan Nyholm, e-Investment Services
Holger G. Demuth, New e-Business
Fadi Joseph Karam, Design, Content &Technologies
Winterthur Insurance
Manfred Broska, Chief Executive Officer
John Dacey, Chief Financial Officer
Beat Michel, Management Services
Erwin Steiger, Switzerland
Peter Gnos, Germany
Fabrizio Rindi, Italy
César Bardají Vivancos, Iberia
Martin Long, United Kingdom
Claude Desseille, Other Europe
Herman Aaftink, North America
Willi Suter, Winterthur International
Kai Dierke, Distribution and ChannelManagement
Severin Moser, Property & Casual
Thomas Schmitt, Health & Accident
Peter Höhn, Chief Information Officer
Winterthur Life & Pensions
Markus Dennler, Chief Executive Officer
Daniel Adamec, Chief Financial Officer
Ruedi Hefti, Market Unit Switzerland
Frank-Henning Florian, Market Unit Germany
John Finan, Market Unit United Kingdom
Christen Schnor, Market Unit other Europe and Asia
Kaspar A. Ruesch, Department Operations NewBusiness
Peter Angehrn, Department ManagementExisting Business
Hans Lauber, Department Asset Management
Bruno Müller, Department IT
Technology & Services
Ulrich Körner, Chief Executive Officer
Bruno Bonati, Chief Financial Officer
Marcel Bührer, Shared Business Services
Andreas Manz, IT Systems Engineering
Karl Landert 1), Application Development
Roman Müller, IT Production
Stephan Murer, Architecture and Standards
1) From 1 April 2001.
Senior Management of Cred
Credit Suisse Private Banking
Oswald J. Grübel, Chief Executive Officer
Peter A. Derendinger, Chief Financial Officer
Thomas Amstutz, Investment Office
Moez A. Jamal, Finance & Treasury
Yves Maas, Securities and Treasury, IT & Operations
Heinz Roth, Market Group I
Alexandre Zeller, Market Group II
Olivier Steimer, Market Group III
Aldo B. Leoni, Market Group IV
Alex W. Widmer, Market Group V
Reto Donatsch, Chief Executive Officer Bank Leu
Credit Suisse Asset Management
Phillip M. Colebatch, Chief Executive Officer
Joseph D. Gallagher, Chief Financial Officerand Head of Europe (a.i.)
G. Moffett Cochran V, President of Americas
Toshio Fukuda, Head of Japan
James McCaughan, Chief Executive Officer of Americas
Andrew McKinnon, Head of Australia
Robert Parker, Head of Global Institutional Distribution
Dilip Rasgotra, Head of Investment Policy Group
Laurence R. Smith, Chief Investment Officer
Heinrich Wegmann, Head of Switzerland andGlobal Retail Co-ordination
it Suisse Group Corporate Cente
Credit Suisse First Boston
Allen D. Wheat, Chairman of the ExecutiveBoard and Chief Executive Officer
Richard E. Thornburgh, Vice-Chairman of theExecutive Board and Chief Financial Officer
Paul Calello, Head of Equity Derivatives andConvertibles
Christopher Carter, Head of Equity CapitalMarkets and European Investment Banking
Anthony F. Daddino, Chief Administrative Officer
Brady W. Dougan, Head of Equities
Bennett J. Goodman, Head of LeveragedFinance
Gates H. Hawn, Head of Financial Services
James P. Healy, Head of Emerging Markets
Stephen A.M. Hester, Head of Fixed Income Division
Hamilton E. James, Co-Head of InvestmentBanking and Private Equity
David S. Moore, Deputy Head of Equities
David C. Mulford, Chairman - International
John Nelson, Chairman - Europe
Trevor Price, Head of Developed Markets -Rates
Joe L. Roby, Chairman of the Business Unit
Stephen E. Stonefield, Chairman - Pacific
Charles G. Ward III, President of the BusinessUnit and Co-Head of Investment Banking andPrivate Equity
r
Ahmad Abu El-Ata, Technology
Kurt Arnold, Tax
Peter W. Bachmann, Accounting/Reporting
Gerhard Beindorff, Investor Relations
Kim Fox-Moertl, Capital and Funding
David P. Frick, General Counsel
Timothy S. Gardner, Human Resources
Stefan Goetz, Corporate Development
Alfred Gremli, Advisory
Tobias Guldimann, Risk Management
Urs P. Hänni, Audit
Philip Hess, Chief of Staff
Stefan P. Hilber, Accounting Systems
Jean-Pierre Huwyler, Security
Fritz Müller, Tax
Ulrich Pfister, Public Affairs
Karin Rhomberg Hug, Communications
Yuji Suzuki, Chairman Japan
www.credit-suisse.com 55
MANAGEMENT
Advisory Boards of Credit Suisse Group
The Swiss and the International Advisory Boards discuss topics of significant relevance toCredit Suisse Group’s Swiss and global activities. While not involved in the governance of theGroup, they provide input and advice to Group management on strategic issues, keyoperational priorities and organisational development.
,
Ulrich Bremi, Chairman Entrepreneur, Zollikon
Urs Lauffer, Vice-Chairman Partner Lauffer & Frischknecht,Zurich
Franz Albers, Partner Albers & Co.Zurich
Truls D. Berg, Chairman of theBoard of Attisholz Holding AG,Brugg
Susy Brüschweiler, Chief ExecutiveOfficer of SV Service AG, Zurich
Martin Candrian, Entrepreneur,Zurich
Melchior Ehrler, Director SwissFarmers’ Association, Brugg, andMember of the Swiss NationalCouncil
Brigitta M. Gadient, Attorney-at-law, Chur, and Member of theSwiss National Council
Swiss Advisory Board
56
Rainer E. Gut, Chairman of theBoard of Nestlé SA, Vevey, andHonorary Chairman of CreditSuisse Group, Zurich
Felix Gutzwiller, Professor andDirector of the Institute for Socialand Preventive Medicine, Universityof Zurich, and Member of the SwissNational Council
Riccardo Gullotti, Chairman of theBoard of Zschokke Holding SA,Geneva
Urs Hammer, Chairman of theBoard and Chief Executive Officerof McDonald’s Suisse Holding SA,Crissier
André Kudelski, Chairman of theBoard of Kudelski SA, Cheseaux-sur-Lausanne
Heini Lippuner, Member of theBoard of Novartis AG, Basle
Paul Meier, Vice-Chairman of theBoard of Neue Aargauer Bank,Aarau
Lukas Mühlemann, Chairman andChief Executive Officer of CreditSuisse Group, Zurich
Erich Müller, Member of the Boardof Sulzer AG, Winterthur, andMember of the Swiss NationalCouncil
Gaudenz Staehelin, Member of theBoard of Barry Callebaut AG,Zurich
Hans-Peter Zehnder, Chairman ofthe Board of Zehnder Holding AG,Gränichen
Roland Zimmerli, Chairman of theBoard of Dätwyler Holding AG,Altdorf, and of Von Roll Holding AG,Gerlafingen
International Advisory Board
Flavio Cotti, ChairmanFormer Federal Councillor
Franco Bernabè, Chairman ofFranco Bernabè Group, Rome
Kim B. Clark, Dean of the Faculty,Harvard Business School, Boston
Mario A. Corti, Executive VicePresident of Nestlé SA, Vevey
Thierry Desmarest, Chairman andChief Executive Officer of Total,Paris
Victor K. Fung, Chairman of theBoard of Prudential Asia, HongKong, and of Li & Fung DistributionGroup, Hong Kong
Fritz Gerber, Chairman of the Boardof Directors of Roche Holding SA,Basle
Rainer E. Gut, Chairman of theBoard of Nestlé SA, Vevey, andHonorary Chairman of CreditSuisse Group, Zurich
Michael Hilti, Chairman of theBoard of Hilti Corporation, Schaan
Andreas W. Keller, Chairman of theBoard of Diethelm Keller HoldingAG, Zurich
Andreas N. Koopmann, ChiefExecutive Officer of Bobst SA,Lausanne
Jorge Paulo Lemann, Partner GP Investimentos S/C, São Paulo
Lukas Mühlemann, Chairman andChief Executive Officer of CreditSuisse Group, Zurich
Agostino Rocca, President andChief Executive Officer of Techint,Buenos Aires
Manfred Schneider, Chairman ofthe Board of Management of BayerAktiengesellschaft, Leverkusen
Ernst Tanner, Chairman and ChiefExecutive Officer of Lindt &Sprüngli, Kilchberg
MAIN OFFICES
Credit Suisse GroupParadeplatz 8P.O. Box 18070 ZurichSwitzerland
Tel +41 1 212 1616Fax +41 1 333 2587
Credit SuisseParadeplatz 8P.O. Box 1008070 ZurichSwitzerland
Tel +41 1 333 1111Fax +41 1 332 5555
235 locations in Switzerland.
WinterthurGeneral-Guisan-Strasse 40P.O. Box 3578401 WinterthurSwitzerland
Tel +41 52 261 1111Fax +41 52 213 6620
611 locations in Switzerland.Represented in more than 30 countries worldwide.
Credit Suisse Private BankingParadeplatz 8P.O. Box 5008070 ZurichSwitzerland
Tel +41 1 333 4444Fax +41 1 333 6330
51 locations in Switzerland.Over 40 locations outside Switzerland.
Credit Suisse Asset ManagementGiesshübelstrasse 30P.O. Box 8008070 ZurichSwitzerland
Tel +41 1 335 1111Fax +41 1 333 2225
Credit Suisse Asset ManagementBeaufort House15 St. Botolph StreetLondon EC3A 7JJEngland
Tel +44 20 7426 2626Fax +44 20 7426 2828
7 locations in Switzerland.14 locations outside Switzerland.
Credit Suisse First BostonUetlibergstrasse 231P.O. Box 9008070 ZurichSwitzerland
Tel +41 1 333 5555Fax +41 1 333 5599
Credit Suisse First BostonEleven Madison AvenueNew York, NY 10010-3629USA
Tel +1 212 325 2000
Credit Suisse First BostonOne Cabot SquareLondon E14 4QJEngland
Tel +44 20 7888 8888Fax +44 20 7888 1600
3 locations in Switzerland.73 locations outside Switzerland.
www.credit-suisse.com 57
INFORMATION FOR INVESTORS
Credit Suisse Group shares Ticker symbolsStock exchange listings Bloomberg Reuters Telekurs
SWX (Swiss Exchange) CSGN SW CSGZn.S CSGN,001Frankfurt CSHN GR CSGZn.F 876800,13Tokyo 8653JP CSGZn.T N1492,106
Also traded in
New York (ADR) 1) CSGKY US CSGKY.OB CSGKY,130London (SEAQ) CSG LI CSHZnq.LT C2,182Paris (OTC) CSHR FP CSHZ.PA 916190,25
1) 4 ADR = 1 registered share
Swiss security number 146248ISIN number CH0001462487CUSIP number 225 401 108
RatingsAgencies Credit Suisse Group Credit Suisse First Boston Winterthur
Long term Short term Long term Short term Long term Short term
Moody’s, New York Aa3 - Aa3 P1 A1 P1 Aa3Standard & Poor’s, New York AA- A1+ AA A1+ AA A1+ AAFitch IBCA, New York AA- F1+ AA- F1+ AA F1+ AA-
Credit Suisse
CREDIT SUISSE GROUPMedia RelationsKarin Rhomberg Hug, Andreas HildenbrandTel. + 41 1 333 8844 Fax + 41 1 333 8877
Mailing address: P.O. Box 1, 8070 Zurich, Switzerland
As of 11 May 2001 Credit Suisse Group’s
Annual Report 2000/2001
may be ordered from:
CREDIT SUISSECIDM 23P.O. Box 1008070 ZurichSwitzerlandFax + 41 1 332 7294
Enquiries
CREDIT SUISSE GROUPInvestor RelationsGerhard Beindorff, Andreas PeterlikTel. + 41 1 333 4570, + 41 1 333 3169Fax + 41 1 333 2587
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