The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Awards

2010 Awards for excellence: Best Global bank

With its successful execution on a new strategy, and high returns on a low-risk model, Credit Suisse is arguably the best-run bank in the world today.


Awards for Excellence 2010

Best Global bank: Credit Suisse

Also nominated: Barclays, HSBC and Santander

There’s a widespread belief that Credit Suisse was the bank that reacted best to the financial crisis that began in the autumn of 2007. It’s broadly correct. Few, if any banks, were as aggressive in selling down positions in distressed assets and exiting business lines that now look like a relic of the past.

But Credit Suisse was simply accelerating a strategy that it had formulated even before the crisis hit. That strategy – of a client-focused, capital-intensive, low-risk model – is one that many other banks are now trying, at least in part, to emulate.

"Back then [in 2008, after the Lehman Brothers collapse] there was far from an industry-wide consensus that our strategy was right," says Paul Calello, chairman of Credit Suisse’s investment bank. "But we were determined to persevere, getting rid of the more complex positions and reducing our risk."

Doing so paid big dividends in 2009. Credit Suisse had reduced its dislocated asset balance from SFr99 billion ($91.4

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree