How Credit Suisse has evolved over 167 years

Politician and business leader Alfred Escher founds Schweizerische Kreditanstalt to finance the expansion of the railroad network and promote Swiss industrialisation.The bank moves into new headquarters on Zurich's Paradeplatz; its first branch outside Zurich opens in Basel nearly three decades later.SKA creates Swiss American Corporation to focus on the underwriting and investment business.SKA takes over White, Weld and Co AG in Zurich from U.S.

The group buys the asset management business of Warburg, Pincus & Co, followed by the purchase of Wall Street firm Donaldson, Lufkin & Jenrette a year later.A reorganisation creates two units: Credit Suisse Financial Services and Credit Suisse First Boston; two years later it splits into three units by adding Winterthur.The group divests Winterthur to French insurer AXA.The group merges four private banking units and a securities trading company into Clariden Leu.

They always find solution : jewish bail out in 1939, nazi bail out in 1945. Maybe russian bail out in 2023 ?

From lending money to begging for money?

Evolved into bankruptcy

On the monies of the poor?

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DBRS Morningstar cuts Credit Suisse credit rating to 'BBB'DBRS Morningstar became the first global rating agency to cut Credit Suisse's credit score on Thursday, less than a day after a major share price plunge saw Switzerland's central bank provide emergency support to the lender.
Source: Reuters - 🏆 2. / 97 Read more »

What Just Happened at Credit Suisse? - The Journal. - WSJ PodcastsAs fears about the health of global banks spread from the U.S. to Europe, the bank Credit Suisse said it would tap a more than $50 billion loan from the Swiss National Bank. WSJ’s Margot Patrick explains how Credit Suisse became a cause for concern. Further Reading: - Credit Suisse Stock Price Jumps as Bank Secures $50 Billion Lifeline - Credit Suisse Promises Overhaul in Wake of Rout as Regulators Offer Lifeline - Janet Yellen Says Banking System Is Healthy After SVB Collapse Further Listening: - Can the Government Contain a Banking Crisis? - The Economy Is Too Hot for the Fed
Source: WSJ - 🏆 98. / 63 Read more »