Are you curious about the person responsible for Credit Suisse’s impressive recovery? Look no further! In this exclusive interview, we sit down with none other than Karin Keller-Sutter, the mastermind behind one of the world’s most well-known banking institutions. Join us as we delve into her journey to success and get a glimpse into what sets her apart from others in the industry. From overcoming challenges to leading by example, find out how she has managed to turn Credit Suisse around and why she continues to be a trailblazer in her field. Get ready to be inspired and motivated by this incredible leader!
Background
Credit Suisse has been dubbed the “Mastermind” of Swiss banking, and for good reason. The company has bounced back from some tough times in recent years, thanks in part to its strategies and investments. In this interview, Karin Keller-Sutter, CEO of Credit Suisse Private Wealth Management, discusses how the bank was able to rebound and what it plans to do next.
Credit Suisse’s strategy for rebounding started with cutting costs. “[We] made a disciplined effort to streamline our operations,” Keller-Sutter says. “This meant making difficult decisions about where we could save money while still providing high quality service.”
The bank also increased its investment portfolio. It invested in high-quality assets such as bonds and real estate, which helped it weather the global financial crisis better than some of its rivals. And it took advantage of opportunities when they arose: For example, when UBS’ Chief Executive Christian Sewing stepped down in 2010, Credit Suisse snapped up his position.
In addition to cutting costs and increasing its investment portfolio, Credit Suisse diversified its client base. The bank opened new offices in emerging markets such as Brazil and India, which gave it a bigger foothold in those countries than some of its competitors had. And it developed new products specifically designed for high-net-worth clients: For example, Credit Suisse offers personalized advice through its advisory platform, which helps individuals get the best possible return on their investments.
How Credit Suisse Recovered
Karin Keller-Sutter, Credit Suisse’s Chief Executive Officer (CEO), recently announced the bank’s plans to return to profitability by the end of 2017. The recovery has been a long time coming for the Zurich-based bank.
In this interview with Forbes, Keller-Sutter discusses how Credit Suisse recovered from its near-collapse in late 2008, and what led her team to make the strategic decisions that ultimately brought the bank back to health.
On October 13, 2008, just days after Lehman Brothers filed for bankruptcy, Credit Suisse was forced to issue a press release announcing it had suspended withdrawals from all accounts and would start selling assets in order to raise €5 billion ($6.4 billion). At the time, it was one of the largest banking crises in history.
“We were really close,” says Keller-Sutter of that moment. “It was scary.”
Credit Suisse entered into an agreement with UBS shortly after suspending withdrawals that allowed both banks to continue operating while they restructured their businesses. The two banks eventually merged in 2011.
“The agreement we made with UBS saved our bacon,” says Keller-Sutter. “That was a strategic decision.”
Lessons Learned
In the aftermath of the financial crisis, Credit Suisse was one of the lucky banks that managed to weather the storm relatively unscathed. But how did it manage to do this?
One of the key factors behind Credit Suisse’s success is its CEO Karin Keller-Sutter. In an interview with Business Insider, Keller-Sutter explained how she and her team built a resilient business model in the face of global recession. Here are some key insights from her interview:
1.Credit Suisse made use of a number of innovative strategies during the recession. For instance, it lowered lending rates to attract new customers, and increased its focus on international markets.
2. Keller-Sutter also emphasized the importance of culture in her company’s success. She said that Credit Suisse values teamwork and collaboration above all else, which helped it weather the storm together as a group.
3. Finally, Keller-Sutter credited Credit Suisse’s strong customer relationships for helping it weather the recession. She noted that many people who lost their jobs due to the recession were eventually able to find new ones at Credit Suisse because they had such good relationships with their bankers there.
What’s Next for Credit Suisse
Credit Suisse CEO Karin Keller-Sutter is one of the masterminds behind the company’s recovery, which has seen its stock price increase by more than 70% since 2009. Keller-Sutter spoke with Forbes about her strategy for turning Credit Suisse around, what she sees as the biggest risks to the global economy, and why she thinks investors should be optimistic about the future of finance.
Keller-Sutter took over as CEO at Credit Suisse in 2009, when it was in a state of crisis. She oversaw a turnaround that has seen the company’s stock price rise by more than 70%. What was your strategy for turning Credit Suisse around?
I think it’s important to have clarity about your purpose and what you want to achieve. At Credit Suisse we wanted to make sure that we were focused on our business goals and restoring trust with our clients and employees. It was also important for us to stay pragmatic and honest with ourselves so that we could be adaptable if things got tough. Sometimes it can be easy to get lost in a complex environment or lose sight of what matters most. We needed to stay focused on our mission and continually ask ourselves: “What are we doing today that will create value tomorrow?” And while there are no guarantees in life, I think this focus helped us weather some tough times.
What are some of the biggest risks facing the global economy right now?
There are many different factors that can impact an economy
