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Abonner Clariden Leu AG

Clariden Leu AG

Clariden Leu merger complete

Zurich (ots)

The Clariden Leu merger was completed on January
26, 2007. The merger, which is effective retroactive to January 1,
2007, combines the experience, expertise and products of Credit
Suisse independent private banking subsidiaries Clariden, Leu,
Hofmann, BGP Banca di Gestione Patrimoniale and securities dealer
Credit Suisse Fides under one roof. Clariden Leu is one of the five
largest providers in the Swiss private banking industry.
Credit Suisse announced the planned merger of its private banking
subsidiaries and the securities dealer Credit Suisse Fides on April
27, 2006. Nine months later the merger is complete. Clariden Leu now
operates as an independent private bank in Switzerland and more than
20 other locations worldwide. The new bank begins with managed assets
of around CHF 124 billion, approximately 60,000 clients and about
1,500 employees. The private bank focuses on wealthy clients who need
high-quality advisory services, portfolio management, product
expertise and performance. As Walter Berchtold, Chairman of the Board
of Directors of Clariden Leu, notes, "The Clariden Leu merger was
completed from a position of strength. All five units were already
excellently positioned in the market and successful. They complement
one another both in terms of their product ranges and their regional
presence. Following the merger, Clariden Leu is very well placed to
further expand its strong position as a pure private bank in national
and international asset management."
Exclusive private banking
Clariden Leu's core business is personal wealth management.
Professional wealth and investment management offers wealthy clients
customized services based on an integrated and structured advisory
approach. As a result of the merger, clients will have access to an
even larger range of products and services with exclusive private
banking expertise.
Innovative products
Clariden Leu's second pillar is its Investment Products division,
which has its own innovative product range with more than 100
products and a volume of approximately CHF 20 billion. With
structured products and a distinguished and specialized range of
funds, the private bank not only covers the investment needs of its
own clients, it is increasingly selling funds to third parties for
distribution to their clients. Clariden Leu also offers collateral
loans, mortgages, solutions for succession planning, trusts and
foundations. F. Bernard Stalder, the CEO of Clariden Leu, explains,
"I am proud of what our employees have accomplished in the last few
months. In addition to the daily duties in their existing units, they
helped establish Clariden Leu. Following its operational launch, we
must now realize our vision of becoming the most successful private
bank in Switzerland measured in terms of client satisfaction,
investment performance, growth, profitability and reputation."
Next steps of the merger
On March 31, 2007, the banks Leu, Hofmann, and BGP will be
consolidated on Credit Suisse's current IT platform. The
international IT merger, which will mainly affect the Singapore and
Nassau offices, will be phased in gradually through the end of June
2007. With the migration of Clariden and Credit Suisse Fides to the
uniform IT platform at the end of September 2007, the technical
merger of Clariden will be complete. In addition to the technical
migration, the offices in Switzerland and abroad will be
consolidated.  By the end of third quarter 2007, the existing 15
locations in Zurich will be consolidated, leaving Clariden Leu five
offices in the city. Clariden Leu's head office is located at
Bahnhofstrasse 32 in Zurich.
Clariden Leu Ltd came into being on January 26, 2007, as a result
of the merger of Credit Suisse's four private banks - Clariden, Bank
Leu, Bank Hofmann, and BGP Banca di Gestione Patrimoniale - as well
as the securities dealer Credit Suisse Fides. It is a leading private
bank offering a comprehensive and high-quality range of products and
advisory services. With over 20 offices worldwide, Clariden Leu
serves affluent clients with demanding wealth management and product
requirements, external asset managers, and wholesale clients. With
assets under management of some CHF 124 billion, Clariden Leu is one
of Switzerland's biggest asset managers.

Contact:

Thomas Ackermann
Head Marketing & Communications
Tel. diretto: +41/58/205'34'44
E-Mail: thomas.ackermann@claridenleu.com

Dagmar Gall
Head Communications
Tel. diretto: +41/58/205'37'10
E-Mail: dagmar.gall@claridenleu.com

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