Awards for Excellence 2008: Switzerland
Best bank: Credit Suisse
Although neither of Switzerland’s biggest banking groups have covered themselves in glory over the past 12 months, in the domestic market things have been more characteristically stable.
Credit Suisse’s retail and domestic corporate business has been impressively innovative, rolling out tailor-made derivatives to small and medium-sized clients and attracting awards for its new branch designs deemed the second coolest in Europe by the European Financial Management and Marketing Association.
The bank has also exploited its wealth management expertise to bring sophisticated investment and advisory programmes targeting different groups using the lifecycle advisory concept.
Overall, Credit Suisse managed to increase revenues in its domestic unit by 13% and pre-tax income by 19%.
While Credit Suisse led the bond league tables and was bookrunner on more equity issues than arch-rival UBS, UBS led some of the biggest equity deals and advised on more M&A deals of greater value, tipping the balance in its favour for the title of best investment bank in Switzerland this year.