Zurich (ots) - Clariden Leu completed the final stage of the
merger of its IT systems at the end of September 2007, with the
migration of the former Clariden Bank and Credit Suisse Fides systems
to the joint Credit Suisse platform.
Walter Berchtold, Chairman of the Board of Directors of Clariden
Leu and CEO of Private Banking at Credit Suisse, commented: "I am
pleased that we have completed the migratory work started in spring
2006 according to schedule, thanks to the huge commitment of all the
business and IT experts at Clariden Leu and Credit Suisse. Clariden
Leu can now focus on the continued delivery of its growth strategy."
F. Bernard Stalder, CEO of Clariden Leu, added: "The challenges of
integration are now behind us. We can look back with pride at one of
the largest and most complex migration projects of its kind in
Switzerland. Clariden Leu continues to target profitable growth in
the Swiss market and in selected international markets to consolidate
its position as a leading Swiss private bank."
Preparations for the complex migration project got under way in
spring 2006. Following the legal merger on January 26, 2007, the IT
platforms of the five companies were migrated to the joint Credit
Suisse platform in various stages. By the end of March 2007, the
systems of the former Bank Leu, Bank Hofmann and BGP had been
consolidated; the international platforms followed at the end of
June. The technical migration was completed at the end of September
with the transfer of the former Clariden Bank and Credit Suisse Fides
systems. At the same time, operations in the various locations in
Switzerland and abroad were consolidated.
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 wealthy clients with demanding wealth management and product
requirements, external asset managers, and wholesale clients. With
assets under management of some CHF 133 billion (as at June 30,
2007), Clariden Leu is one of Switzerland's biggest asset managers.
ots Originaltext: Clariden Leu AG
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