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. ots Originaltext: Clariden Leu AG Internet: www.presseportal.ch 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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