Credit Suisse
Country
Switzerland
Sector
Banks
Offices
-
Employees
-
Brand value
$8,368m
Brand rating
AA+
Market cap
$25,436m
Value / market cap
32.9%
User rating
Market cap
* For banks, enterprise value is substituted with market cap. Source: Bloomberg Finance L.P.
Performance of the brand
Credit Suisse Group AG has dropped two places in the September 2011 update of the Global 100 rankings, having revealed disappointing financial results for the first half of 2011, further experiencing a blow to its brand strength due to investigations by the US justice department. The banking group lost almost 7% of its brand value between January and September of 2011 with the final brand valuation settling on $12.6bn.
The firm remains Switzerland’s largest banking brand, but has still experienced serious financial disappointment this year. The company publicised the fact that it will have to cut more than 2,000 jobs (4% of company workforce) by the end of 2012 in order to make savings of over SFr1bn after group revenue fell 25% to SFr6.3bn with revenue from trading falling by almost 70% in the second quarter of 2011. The company’s investment banking arm struggled due to low trading volumes as a result of the European sovereign debt crisis and looks to be the largest victim of company cost cutting. The bank’s results were also adversely affected by an increase in the strength of the Swiss Franc. Dipping analysts’ forecasts were a key reason behind the company’s decline in brand value, especially with the firm having missed analysts’ earnings predictions by almost 25% in the second quarter of 2011.
The brand’s strength has fluctuated in recent periods due to a number of different issues. Recently, the company has been sued by the US government for damages caused during the financial crisis by failing to comply with US laws regarding the sale of mortgage backed assets. Furthermore, the company has been the subject of a criminal investigation by the US justice department into its involvement in assisting high net-wealth individuals in the US to evade taxes through a number of underhand techniques designed to hide billions of dollars of funds from the US Internal Revenue Service.
Conversely, the firm has enjoyed success in some of its sponsorships including that of Roger Federer whose continued success and popularity has helped bring the brand greater recognition. Credit Suisse’s brand has become associated with many of the attributes linked to Roger Federer such as his respectable and refined image, as well as his being synonymous with Switzerland.
Last changed September 9, 2011
League tables
Credit Suisse appears in the following brand league tables:
Rank 109 in the
Global 500 2012.
Rank 22 in the
Banking 500 2012.
Rank 57 in the
Global 500 2011.
Rank 15 in the
Banking 500 2011.
Rank 57 in the
Global 500 2011.
Rank 20 in the
Banking 500 2010.
Rank 91 in the
Global 500 2010.
Rank 13 in the
Banking 500 2009.
Rank 76 in the
Global 500 2009.
Rank 10 in the
Banking 500 2008.
Rank 54 in the
Global 500 2008.
Rank 51 in the
Global 250 2007.
Rank 11 in the
Banking 500 2007.
Rank 11 in the
Banking 100 2007.
2012 brand performance*
Brand value
$8,368m
Brand rating
AA+
Market cap
$25,436m
Value / market cap
32.9%
* Figures taken on 31st December 2011.
2011 brand performance*
Brand value
$13,497m
Brand rating
AAA-
Market cap
$46,644m
Value / market cap
28.9%
* Figures taken on 31st December 2010.
2010 brand performance*
Brand value
$8,430m
Brand rating
AA
Market cap
$50,468m
Value / market cap
16.7%
* Figures taken on 31st December 2009.
2009 brand performance*
Brand value
$7,668m
Brand rating
AA
Market cap
$32,483m
Value / market cap
23.6%
* Figures taken on 31st December 2008.
Brandirectory user rating*
* Average values from a total of 5 votes.
There have been ten stages of logo progression for Credit Suisse, all of which are mapped out in this flash animation from the bank's own website.
The logo used for Credit Suisse has evolved throughout the company’s long history to compliment this transition. Since January 2006, Credit Suisse had been pursuing a strategy as an integrated, global bank. To this end, the three divisions of private banking, investment banking, and asset management were brought together under a single roof. This organisational restructuring gave rise to the 2006 logo, which blends the sails from the First Boston logo, with the former Credit Suisse logo.
Mission statement
Credit Suisse divide their mission statement into two sections entitled “Our Vision” and “Our Mission”, they read as follows:
Our Vision
“Our vision is to become the world’s most admired bank, renowned for our expertise in private banking, investment banking and asset management, and most valued for our advice, innovation and execution.”
Our Mission
“Our mission is to set new standards in partnering with our clients and providing them with integrated financial solutions. As a global bank serving clients in every region of the world, cultural diversity is essential to our success. We strive to create an open, respectful workplace that encourages people to work together and with our clients to deliver superior products, services and results and support the success and prosperity of all our stakeholders.”
Company history
Credit Suisse was founded in 1856 under the name Schweizerische Kreditanstalt (SKA, Swiss Credit Institution). It now operates through 405 offices that span across 55 countries, with its headquarters based in Zurich, Switzerland. The bank divides its operations into three sectors; private banking, investment banking, and asset management. It gained a lot of credit for being one of the only major “bulge bracket” banks to weather the financial crisis without any form of governmental support.
In 2004, the bank’s organisational structure was focused into three business units: 1) Credit Suisse 2) Credit Suisse First Boston (CSFB) 3) Winterthur. In 2006 it divested its insurance business (Winterthur) to AXA, and renamed the bank as Credit Suisse, dropping both the First Boston and CSFB names.
Advertising
PR
Credit Suisse provides information for its customers or simply anyone interested in finance via several media channels. They have a Youtube channel which provides sound financial advice and interviews with leading businessmen from around the world. They also have a Facebook page, a Twitter page, as well as video and audio podcasts available for download from the website or via iTunes. In addition, downloadable .pdf reports on various topics relevant to business and the economy available on their webpage.
Sponsorships
Credit Suisse have embarked on a number of sponsorship deals in sport and culture. They are the main sponsor of the Swiss national football team and have been since 1993. More recently, they appointed tennis player Roger Federer as an ambassador for the company. As part of this arrangement, Credit Suisse agreed to make a significant donation to the Roger Federer foundation, a charity that works to help disadvantage children with education and sport, particularly in Africa. Outside of sport, they are the only sponsor of the New York Philharmonic (America’s oldest symphony orchestra) and are involved with a number of classical music and jazz festivals.
