2. PART I
2 Financial highlights 2000
4 To our shareholders
PART II
6 An overview of Credit Suisse Group
6 Organisation
8 Financial review
11 Strategic review
PART III
13 Review of business units
16 Credit Suisse Financial Services
23 Credit Suisse Private Banking
25 Credit Suisse Asset Management
27 Credit Suisse First Boston
PART IV
30 Credit Suisse Group Risk Management
PART V
50 Consolidated financial statements
PART VI
107 Parent company financial statements
118 Five-year summary of selected
financial data
120 Management
126 Main offices
127 Information for investors
3. PARENT COMPANY FINANCIAL STATEMENTS
Page
Financial statements 110
Income statement 110
Balance sheet before appropriation of retained earnings 111
Notes to the financial statements 112
1 Contingent liabilities 112
2 Balance sheet assets with retention of title to secure own obligations 112
3 Off-balance sheet obligations relating to leasing contracts 112
4 Fire insurance value of tangible fixed assets 112
5 Liabilities relating to pension plans and other retirement benefit obligations 112
6 Bonds issued 112
7 Principal participations 112
8 Release of undisclosed reserves 112
9 Revaluation of long-term assets to higher than cost 112
10 Own shares held by the company and by Group companies 112
11 Share capital, conditional and authorised capital 113
Report of the auditors on capital increases to the Board of Directors of 114
Credit Suisse Group on conditional and authorised capital increases
12 Significant shareholders and their holdings 115
13 Legal reserves 115
14 Retained earnings brought forward 115
15 Provisions 115
Proposals to the Annual General Meeting 116
Report of the statutory auditors 117
www.credit-suisse.com 109
4. PARENT COMPANY FINANCIAL STATEMENTS
2000/2001 1999/2000 Change Change
Income statement in CHF 1,000 in CHF 1,000 in CHF 1,000 in %
Income
Interest income and income from securities 1,702,398 444,145 1,258,253 283
Income from investments in Group companies 3,458,863 3,824,018 (365,155) (10)
Other income 298,679 275,333 23,346 8
Total income 5,459,940 4,543,496 916,444 20
Expenses
Interest expenses 414,213 279,984 134,229 48
Personnel expenses and directors’ emoluments 123,599 119,474 4,125 3
Other expenses 157,634 144,683 12,951 9
Depreciation, write-offs and provisions 117,703 20,323 97,380 479
Taxes 99,614 30,150 69,464 230
Total expenses 912,763 594,614 318,149 54
Net profit 4,547,177 3,948,882 598,295 15
110
5. 31 March 2001 31 March 2000 Change Change
Balance sheet before appropriation of retained earnings Notes in CHF 1,000 in CHF 1,000 in CHF 1,000 in %
Assets
Investments in Group companies 32,330,780 21,705,760 10,625,020 49
7
Long-term loans to Group companies 2,163,805 1,309,309 854,496 65
Securities 2,848,988 1,861,835 987,153 53
Total long-term assets 37,343,573 24,876,904 12,466,669 50
Liquid assets held at third parties 250,027 1 250,026 –
Liquid assets held at Group companies 4,096,785 1,078,865 3,017,920 280
Securities 2,539,935 3,645,017 (1,105,082) (30)
Other receivables from third parties 49,121 1,319,333 (1,270,212) (96)
Accrued income and prepaid expenses 907,999 408,434 499,565 122
Total current assets 7,843,867 6,451,650 1,392,217 22
Total assets 45,187,440 31,328,554 13,858,886 44
Shareholders’ equity and liabilities
Share capital 6,014,944 5,476,853 538,091 10
11
Legal reserve 19,694,244 11,676,078 8,018,166 69
13
Reserve for own shares 3,000,000 600,000 2,400,000 400
10
Retained earnings:
– retained earnings brought forward 1,598,208 1,966,225 (368,017) (19)
14
– net profit for the year 4,547,177 3,948,882 598,295 15
Total shareholders’ equity 34,854,573 23,668,038 11,186,535 47
Bonds 4,150,000 3,550,000 600,000 17
6
Long-term loans from Group companies 3,051,064 2,521,077 529,987 21
Provisions 558,820 467,951 90,869 19
15
Total long-term liabilities 7,759,884 6,539,028 1,220,856 19
Payable to third parties 93,632 3,203 90,429 –
Payable to Group companies 1,145,193 404,330 740,863 183
Accrued expenses and deferred income 1,334,158 713,955 620,203 87
Total current liabilities 2,572,983 1,121,488 1,451,495 129
Total liabilities 10,332,867 7,660,516 2,672,351 35
Total shareholder’s equity and liabilities 45,187,440 31,328,554 13,858,886 44
www.credit-suisse.com 111
6. NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS
31 March 2001 31 March 2000
in CHF 1,000 in CHF 1,000
1 Contingent liabilities
Aggregate indemnity liabilities, guarantees and other contingent liabilities 32,300,796 19,903,280
– of which on behalf of Group companies 32,130,756 19,733,079
The company belongs to the Swiss value-added tax (VAT) group of Credit Suisse Group, and thus
carries joint liability to the Swiss federal tax authority for value-added tax debts of the entire Group.
2 Balance sheet assets with retention of title
to secure own obligations
There are no such assets.
3 Off-balance sheet obligations relating to leasing contracts
There are no such obligations.
4 Fire insurance value of tangible fixed assets 0 8,200
5 Liabilities relating to pension plans and other
retirement benefit obligations
There are no such liabilities.
31 March 2001 31 March 2000
6 Bonds issued Interest rate Maturity date in CHF m in CHF m
Warrant bonds (ex warrant) 2.250% 1993–06.08.2001 500 500
Bonds (subordinated) 6.000% 1994–15.12.2003 250 250
Bonds 4.000% 1997–31.10.2006 800 800
Bonds 4.000% 1997–23.05.2007 1,000 1,000
Bonds 3.500% 1998–15.09.2008 500 500
Bonds 3.500% 1999–02.07.2009 500 500
Bonds 4.125% 2000–04.10.2004 600 –
7 Principal participations
The company’s principal participations are shown in the notes to the consolidated financial statements.
8 Release of undisclosed reserves
No significant undisclosed reserves were released.
9 Revaluation of long-term assets to higher than cost
There was no such revaluation.
2000/2001 1999/2000
10 Own shares held by the company and by Group companies No. of shares in CHF 1,000 No. of shares in CHF 1,000
Shares included in financial investments from the banking and insurance business
In registered share equivalents, including derivatives
92,224 30,389 13,645 3,766
At beginning of financial year
1,781,276 533,205 92,224 30,389
At end of financial year
Shares included in securities trading portfolios
In registered share equivalents, including derivatives
1,356,857 449,119 221,512 61,137
At beginning of financial year
2,752,376 840,853 1,356,857 449,119
At end of financial year
112
7. No. of Par value
11 Share capital, conditional and authorised capital registered shares in CHF
Share capital as of 31 March 2000 273,842,638 5,476,852,760
Par value
in CHF
No. of shares
Conditional capital
Warrants and convertible bonds
AGM of 4 June 1992 12,500,000 250,000,000
Bonds converted 19 November 1992 – 31 March 2000 (7,262,250) (145,245,000)
Bonds converted 1 April 2000 – 31 March 2001 (30,975) (619,500) 30,975 619,500
Warrants exercised 6 August 1993 – 25 September 1996 (4,998,845) (99,976,900)
Warrants not exercised (lapsed 26 September 1996) (1,155) (23,100)
Remaining capital 206,775 4,135,500
Warrants and convertible bonds
AGM of 29 May 1995 12,500,000 250,000,000
Remaining capital 12,500,000 250,000,000
Staff shares
AGM of 28 May 1999 6,000,000 120,000,000
Subscriptions exercised 28 May 1999 – 31 March 2000 0 0
EGM of 29 September 2000 (increase) 6,000,000 120,000,000
EGM of 29 September 2000 12,000,000 240,000,000
Subscriptions exercised 1 April 2000 – 31 March 2001 (68,830) (1,376,600) 68,830 1,376,600
Remaining capital 1) 11,931,170 238,623,400
Staff shares (Donaldson, Lufkin & Jenrette option programs)
EGM of 29 September 2000 12,000,000 240,000,000
Subscriptions exercised 29 September 2000 – 31 March 2001 (1,077,586) (21,551,720) 1,077,586 21,551,720
Remaining capital 10,922,414 218,448,280
Authorised capital
Acquisitions of companies/participations
AGM of 28 May 1999 13,000,000 260,000,000
Exercise of convertible bonds from Winterthur 2 March 2000 (1,630,000) (32,600,000)
Remaining capital 11,370,000 227,400,000
Acquisition of Donaldson, Lufkin & Jenrette
EGM of 29 September 2000 30,000,000 600,000,000
Acquisition of Donaldson, Lufkin & Jenrette 3 November 2000 (25,727,167) (514,543,340) 25,727,167 514,543,340
Remaining capital 4,272,833 85,456,660
Share capital as of 31 March 2001 300,747,196 6,014,943,920
1)
Of which 7,448,170 shares (par value CHF 148,963,400) reserved for rights issued to the management and staff.
www.credit-suisse.com 113
8. NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS
Report of the auditors on capital increases to the Board of
Directors of Credit Suisse Group on conditional and authorised
capital increases
We have examined the issuance of shares for the period from 1 April 2000
to 31 March 2001 in accordance with the resolutions passed by the Annual
General Meeting of Shareholders of 4 June 1992, 29 May 1998 and the
Extraordinary General Meeting of Shareholders of 29 September 2000
respectively, in accordance with Swiss law and the Company's Articles of
Association. Furthermore, we have examined the capital increase report
dated 3 November 2000 in accordance with Swiss law.
It is the responsibility of the Board of Directors to execute the issuance
of new shares in accordance with the Company's Articles of Association.
Our responsibility is to examine whether the issuance of new shares was
done in accordance with Swiss law, the Company's Articles of Association,
the applicable offering documents, regulations and contracts. The Board of
Directors takes responsibility for the capital increase report. Our responsibility
is to examine the information provided therein. We confirm that we meet the
legal requirements concerning professional qualification and independence.
Our examination was conducted in accordance with the auditing standards
promulgated by the Swiss profession, which require that our examination be
planned and performed to obtain reasonable assurance about whether the
issuance of new shares is free from material mistakes, and whether material
errors in the capital increase report would be detected with reasonable assur-
ance. We have performed the audit procedures required in the circumstances
and are of the opinion that they form a reasonable basis for our opinion.
In our opinion the issuance of 1,177,391 registered shares, with a nominal
value of CHF 20 each and a total nominal value of CHF 23,547,820, is in
agreement with Swiss law, the Company's Articles of Association, the appli-
cable offering documents, regulations and contracts. Furthermore, in our
opinion, the information set out in the capital increase report is complete and
appropriate and corresponds to the resolutions passed by the Extraordinary
General Meeting of Shareholders held on 29 September 2000 and the circular
resolutions of the Board of Directors dated 3 November 2000.
KPMG Klynveld Peat Marwick Goerdeler SA
Zurich, 3 November 2000 and 18 April 2001
114
9. 12 Significant shareholders and their holdings
BZ Group Holding has notified Credit Suisse Group that it held as of 31 March 2001, on a consolidated basis, 26,961,635 registered shares,
corresponding to 8.96% of the total outstanding registered shares, of which 4.61% were recorded in the share register with the right to vote.
13 Legal reserves
The change in legal reserves compared to 31 March 2000 equals the capital surplus of CHF 8,103.9 m (1999/2000: CHF 636.3 m)
received for newly issued shares, net of issuing costs of CHF 85.7 m (1999/2000: CHF 7.9 m).
14 Retained earnings brought forward
in CHF
Retained earnings from prior year 3,998,208,450
Transfer to reserve for own shares (2,400,000,000)
Retained earnings brought forward 1,598,208,450
15 Provisions
This item includes general provisions of CHF 301 m (as of 31 March 2000: CHF 301 m).
www.credit-suisse.com 115
10. PROPOSALS TO THE ANNUAL GENERAL MEETING
Proposed appropriation of retained earnings in CHF
Retained earnings brought forward 1,598,208,450
Net profit for the year 4,547,176,924
Retained earnings available for appropriation 6,145,385,374
Transfer to free reserves 6,100,000,000
To be carried forward 45,385,374
Total 6,145,385,374
Proposed par value reduction
Instead of distributing a dividend, the Board of Directors proposes a par value reduction of CHF 8 per registered share, reducing the nominal value
from CHF 20 to CHF 12. Shareholders holding Credit Suisse Group shares as of 14 August 2001 are eligible for receiving the par value reduction.
The cash payment will be made on 15 August 2001.
On behalf of the Board of Directors:
Chairman: L. Mühlemann
Executive Board:
L. Mühlemann, H.-U. Doerig, P. K. Ryan, O. J. Grübel, T. Wellauer, R. Dörig, A. D. Wheat, R. E. Thornburgh, P. M. Colebatch
Zurich, 27 April 2001
116
11. REPORT OF THE STATUTORY AUDITORS
Report of the statutory auditors to the
Annual General Meeting of Credit Suisse Group, Zurich
As statutory auditors, we have audited the accounting records and the financial
statements (income statement, balance sheet and notes) of Credit Suisse Group
for the year ended 31 March 2001.
These financial statements are the responsibility of the Board of Directors.
Our responsibility is to express an opinion on these financial statements based
on our audit. We confirm that we meet the legal requirements concerning pro-
fessional qualification and independence.
Our audit was conducted in accordance with auditing standards promulgated
by the Swiss profession, which require that an audit be planned and performed
to obtain reasonable assurance about whether the financial statements are free
from material misstatement. We have examined on a test basis evidence sup-
porting the amounts and disclosures in the financial statements. We have also
assessed the accounting principles used, significant estimates made and the
overall financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
In our opinion, the accounting records, financial statements and the pro-
posed appropriation of retained earnings comply with Swiss law and the
Company’s Articles of Association.
We recommend that the financial statements submitted to you be approved.
KPMG Klynveld Peat Marwick Goerdeler SA
Brendan R. Nelson Peter Hanimann
Chartered Accountant Certified Accountant
Auditors in Charge
Zurich, 27 April 2001
www.credit-suisse.com 117
12. FIVE-YEAR SUMMARY OF SELECTED FINANCIAL DATA
1)
Share information 31 Dec. 2000 31 Dec. 1999 31 Dec. 1998 31 Dec. 1997 31 Dec. 1996
300,437,990 272,206,488 269,086,369 266,128,097 194,307,590
Number of shares issued
300,437,990 272,206,488 269,086,369 265,750,460 194,186,189
Shares ranking for dividend
277,775,022 271,310,760 267,542,466 262,952,238 190,011,086
Average
Market capitalisation 2000 1999 1998 1997 1996
92,535 86,153 57,854 60,060 26,701
Year-end in CHF m
7.4 48.9 (3.7 ) 124.9 19.8
Change in %
8.7 9.9 7.5 9.2 6.4
As a % of SMI (at year-end)
2000 1999 1998 1997 1996
Share price in CHF in CHF in CHF in CHF in CHF
308 316.5 215 226 137.5
Year-end
388.5 316.5 382 238 139.25
Year high
293 212 149.5 133.75 105.75
Year low
2000 1999 1998 1997 1996
14.8 16.5 18.7 149.7 –
Price/earnings ratio (at year-end)
2.3 2.6 2.2 2.5 –
Price/book value ratio (at year-end)
2000 1999 1998 1997 1996
Per share ranking for dividend in CHF in CHF in CHF in CHF in CHF
136.3 119.8 96.0 88.9 –
Book value (at year-end)
38.6 29.4 22.7 22.9 –
Cash flow (average)
43.5 33.7 24.8 27.0 –
Gross operating profit (average)
20.83 19.2 11.5 1.5 –
Earnings per share (average)
20.75 19.1 11.4 1.5 –
Earnings per share (diluted)
Repayment of capital 2)/Dividend 8.0 7.0 5.0 5.0 4.0
Trading volume on Swiss Exchange (SWX) 2000 1999 1998 1997 1996
108,361 88,107 115,362 63,447 34,455
in CHF m – Total per year
431.7 346.9 459.6 262.2 142.4
– Daily average
333,836 325,497 443,857 346,579 282,279
in 1000 units – Total per year
1,330.0 1,281.5 1,768.4 1,432.1 1,166.4
– Daily average
(2
1)
Figures for 1996 do not include Winterthur Group.
4
2)
Proposal of the Board of Directors to the Annual General Meeting on 1 June 2001.
Note: Within the framework of the Swiss Accounting and Reporting Recommendation, 22
Credit Suisse Group has changed its accounting policies in the year 2000 in order to
increase the transparency for its insurance business and to align with a more inter-
nationally-recognised standard. Prior year’s comperative figures have not been restated 103
for this summary.
75
109
(38
17
118
13. 2000 1999 1998 1997 1996
Consolidated income statement in CHF m in CHF m in CHF m in CHF m in CHF m
5,313 5,252 5,152 4,579 3,488
Net interest income
16,596 10,870 8,327 6,592 4,942
Net commissions and service fee income
8,791 6,578 2,378 5,282 3,901
Net trading income
6,166 5,060 5,357 4,775 4,139
Net income from insurance business
365 110 486 (218) 197
Other ordinary income
37,231 27,870 21,700 21,010 16,667
Net operating income
18,503 13,509 10,586 9,931 8,087
Personnel expenses
6,645 5,229 4,473 3,979 3,244
Other operating expenses banking business
25,148 18,738 15,059 13,910 11,331
Total operating expenses
12,083 9,132 6,641 7,100 5,336
Gross operating profit
3,021 2,585 3,832 3,214 1,927
Depreciation, valuation adjustments and losses
9,062 6,547 2,809 3,886 3,409
Profit before extraordinary items, taxes and minority interests
105 93 1,554 1,323 1,340
Extraordinary income
(1,796) (152) (573) (3,534) (5,407)
Extraordinary expenses
(1,349) (1,149) (575) (1,074) (1,172)
Taxes
6,022 5,339 3,215 601 (1,830)
Profit/(loss) before minority interest
(237) (118) (147) (204) (252)
Minority interests
5,785 5,221 3,068 397 (2,082)
Net profit/(loss)
10,734 7,983 6,066 6,026 4,164
Cash flow
2000 1999 1998 1997 1996
Return on equity (ROE) in % in % in % in % in %
17.7 18.2 11.7 1.7 –
ROE
31 Dec. 2000 31 Dec. 1999 31 Dec. 1998 31 Dec. 1997 31 Dec. 1996
Consolidated balance sheet in CHF m in CHF m in CHF m in CHF m in CHF m
987,433 722,746 652,437 689,568 624,396
Total assets
43,522 34,368 28,162 25,651 22,861
Shareholders’ equity
2,571 1,747 2,325 2,005 1,844
Minority interests in shareholders’ equity
BIS data/ratios 31 Dec. 2000 31 Dec. 1999 31 Dec. 1998 31 Dec. 1997 31 Dec. 1996
239,465 213,298 202,078 208,382 199,615
BIS risk-weighted assets (in CHF m)
11.3 13.2 12.0 10.9 10.4
BIS tier 1 ratio (in %)
18.2 19.1 17.8 16.8 15.1
BIS total capital ratio (in %)
31 Dec. 2000 31 Dec. 1999 31 Dec. 1998 31 Dec. 1997 31 Dec. 1996
Assets under management in CHF bn in CHF bn in CHF bn in CHF bn in CHF bn
1,417.0 1,186.7 937.8 863.0 737.0
Total assets under management
Number of employees 31 Dec. 2000 31 Dec. 1999 31 Dec. 1998 31 Dec. 1997 31 Dec. 1996
21,454 20,885 20,625 21,442 23,553
Switzerland – banking
6,781 6,569 6,827 7,108 6,547
– insurance
30,666 17,249 15,753 13,235 11,268
Outside Switzerland – banking
21,637 19,260 18,375 20,457 19,172
– insurance
80,538 63,963 61,580 62,242 60,540
Total employees Credit Suisse Group
www.credit-suisse.com 119
14. MANAGEMENT
Board of Directors of Credit Suisse Group
Thomas Schmidheiny Members of the Board of Directors
Lukas Mühlemann
born 1945 until 1 June 2001
born 1950
Chairman of the Board of Directors
Chairman since May 2000, Chief Executive
and Managing Director of Holderbank Philippe Bruggisser, Wohlen
Officer of Credit Suisse Group since January
Financière Glaris Ltd., Jona Arthur W. Dunkel, Former Director General
1997
GATT, Geneva
Peter Brabeck-Letmathe1) 3) Vreni Spoerry
John M. Hennessy, Chairman Private Equity
born 1938
born 1944
Credit Suisse First Boston, New York
Member of the Swiss Council of States
Vice-Chairman, Chief Executive Officer and
Lionel I. Pincus, Chairman and Chief Executive
Vice-Chairman of Nestlé SA, Vevey Aziz R. D. Syriani 1)
Officer E. M. Warburg, Pincus & Co. LLC,
Thomas W. Bechtler 2) born 1942
New York
President of The Olayan Group, Athens
born 1949
Chairman of the Board of Directors Daniel L. Vasella 1) At the Annual General Meeting to be held
of Zellweger Luwa Group, Uster on 1 June 2001, Philippe Bruggisser,
born 1953
Marc-Henri Chaudet 2) Arthur W. Dunkel, John M. Hennessy and
Chairman and Chief Executive Officer
Lionel I. Pincus will step down from the Board
of Novartis International AG, Basle
born 1936
of Directors of Credit Suisse Group.
Attorney-at-law
Gerald Clark 2) Honorary Chairman
The Board of Directors and the Executive Board
Rainer E. Gut
born 1943
of Credit Suisse Group would like to thank
Vice-Chairman of the Board and Chief
the four gentlemen for dedicating their valuable
Investment Officer of Metropolitan Life Corporate Secretary
experience and their talent to the good of our
Insurance Company, New York Pierre Schreiber
company. With their commitment and support
Walter B. Kielholz 2)
they have greatly contributed to the success and
born 1951 Independent Auditors prosperity of the Group.
Chief Executive Officer and Director of KPMG Klynveld Peat Marwick
Swiss Re, Zurich Goerdeler SA, Zurich
1)
Member of the Compensation and Appointments
Committee, chaired by Peter Brabeck-Letmathe.
2)
Member of the Audit Committee,
chaired by Walter B. Kielholz.
3)
Lead Independent Director.
Boards of Directors of Credit Suisse, Credit Suisse First Boston,
“Winterthur” Swiss Insurance Company and Winterthur Life
Thomas Schmidheiny Honorary Chairmen Winterthur
Lukas Mühlemann, Chairman
Peter Brabeck-Letmathe 1), Vice-Chairman Vreni Spoerry Hans Braunschweiler
Peter Spälti
Aziz R. D. Syriani 1)
Thomas W. Bechtler 2)
Daniel L. Vasella 1)
Marc-Henri Chaudet 2)
Gerald Clark 2)
1)
Member of the Compensation and Appointments
Walter B. Kielholz 2) Committee, chaired by Peter Brabeck-Letmathe.
2)
Member of the Audit Committee,
chaired by Walter B. Kielholz.
120
15. About the Board and its Committees
The Board: Credit Suisse Group’s Committees of the Board (effective
Board of Directors meets at least six 1 June 2001): The Board has two
times a year. Being responsible for the regular committees, the Audit
overall direction, supervision and con- Committee and the Compensation and
trol of the company, the Board reviews Appointments Committee, whose
the Group’s competitive position and members are non-executive directors
approves strategy and financial plans. and are appointed for one year. In addi-
The Board reviews reports on the tion, the Board may from time to time
operations of the Group with a particu- delegate certain tasks to a Chairman’s
lar focus on risk management and Committee, consisting of the Chairman
exposure. It reviews significant and the two Chairmen of the regular
changes in the Group’s structure and committees to allow an efficient and
organisation. It also assesses the per- expedient handling of urgent matters.
formance of the Group Executive
Board and discusses succession plans The Audit Committee consists of a
for key managers. The Board is active- minimum of three members and holds
ly involved in the Group’s major proj- at least four regular meetings each
ects including acquisitions, divestitures year. Its duties and responsibilities in-
and major investments. As of June clude the review of the annual report
2001, with the exception of the and the annual financial statements,
Chairman, all Board members are non- the review of relevant reports submitted
employee directors, appointed by the to regulators, reports by internal and
shareholders for a period of four years. external auditors, the annual audit
plans as well as the assessment of the
audit, risk management and group
compliance functions. Moreover, the
committee is regularly informed about
legal, compliance and regulatory mat-
ters. The Committee Chairman regular-
ly reports to the full Board about the
committee’s activities and findings.
The Compensation and Appoint-
ments Committee consists of a mini-
mum of three members. In at least two
regular meetings per year, the commit-
tee determines the compensation
payable to the members of the Group
and Business Unit Executive Boards
and other senior managers and ap-
proves compensation plans. The com-
mittee also reviews and proposes
Group Executive Board appointments
to the Board of Directors and evaluates
Board and Committee memberships
for final approval by the shareholders
and the full Board, respectively. The
Committee Chairman regularly reports
to the full Board about the committee’s
activities.
www.credit-suisse.com 121
16. MANAGEMENT
Executive Board of Credit Suisse Group
Lukas Mühlemann
born 1950
Chairman and Chief Executive Officer
Hans-Ulrich Doerig
born 1940
Vice-Chairman of the Executive
Board and Chief Risk Officer
Rolf Dörig
born 1957
Chief Executive Officer
Credit Suisse Banking
Thomas Wellauer
born 1955
Chief Executive Officer
Credit Suisse Financial Services
Philip K. Ryan
born 1956
Chief Financial Officer
Oswald J. Grübel
born 1943
Chief Executive Officer
Credit Suisse Private Banking
Phillip M. Colebatch
born 1944
Chief Executive Officer
Credit Suisse Asset Management
Richard E. Thornburgh
born 1952
Vice-Chairman of the
Executive Board Credit Suisse
First Boston
Allen D. Wheat
born 1948
Chief Executive Officer
Credit Suisse First Boston
122
17. Senior Management of the Business Units
Credit Suisse Financial Services Credit Suisse Personal Finance Winterthur Life & Pensions
Thomas Wellauer, Chief Executive Officer Olivier Steimer, Chief Executive Officer Markus Dennler, Chief Executive Officer
Erwin W. Heri, Chief Financial Officer Richard Lütolf, Chief Financial Officer Daniel Adamec, Chief Financial Officer
Wolfgang Schmidt-Soelch 1), Paolo F. Lanzoni, Italy Ruedi Hefti, Switzerland
Corporate Development Pablo Toja Aguirre, Spain Frank-Henning Florian, Germany
Urs Hofmann 1), Human Resources Michael M. Rüdiger, Germany John Finan, United Kingdom
Hansjörg Frei 1), Country Management Antoine Bordelais, United Kingdom Christen Schnor, Other Europe and Asia
Manfred Broska, Chief Executive Officer Patrick Nosten, France Kaspar A. Ruesch, Operations New Business
Winterthur Insurance
Peter Angehrn, Management Existing Business
Markus Dennler, Chief Executive Officer
Hans Lauber, Asset Management
Winterthur Life & Pensions
Credit Suisse e-Business Bruno Müller, IT
Rolf Dörig, Chief Executive Officer
Credit Suisse Banking
Hanspeter Kurzmeyer, Chief Executive Officer
Olivier Steimer, Chief Executive Officer
Credit Suisse Personal Finance Technology and Services
Christoph Brunner, Chief Financial Officer
Hanspeter Kurzmeyer, Chief Executive Officer Romeo Lacher, e-Channels Switzerland
Credit Suisse e-Business
Jürgen Pulm, e-Channels Europe Ulrich Körner, Chief Executive Officer
Ulrich Körner, Chief Executive Officer
Fadi Karam a.i., e-Insurance Bruno Bonati, Chief Financial Officer
Technology and Services
Jan Nyholm, e-Investment Services Marcel Bührer, Shared Business Services
1)
Member of the Extended Executive Board of Holger G. Demuth, New e-Businesses Andreas Manz, IT Systems Engineering
Credit Suisse Financial Services.
Fadi Karam, Design, Content & Technologies Karl Landert, Application Development
Roman Müller, IT Production
Stephan Murer, Architecture and Standards
Credit Suisse Banking
Winterthur Insurance
Rolf Dörig, Chief Executive Officer
Manfred Broska, Chief Executive Officer
Rolf Aeberli, Chief Financial Officer
John Dacey, Chief Financial Officer
Dominique Folletête, Private Clients
Beat Michel, Management Services/
Martin Wetter, Corporate Clients Human Resources/Communications
Bruno B. Pfister, Products Erwin Steiger, Switzerland
Martin Senn, Trading- and Investment Services Peter Gnos, Germany
Franz-Josef Groth, Credit Management Fabrizio Rindi, Italy
Walter Fluck, Credit Recovery César Bardají Vivancos, Iberia
Bruno Bohlhalter, Credit Recovery Martin Long, United Kingdom
Josef Meier, Chief Executive Officer Claude Desseille, Other Europe
Neue Aargauer Bank
Herman Aaftink, North America
Willi Suter, Winterthur International
Kai Dierke, Distribution & Channel Management
Severin Moser, Property & Casualty
Thomas Schmitt, Health & Accident
Peter Höhn, Chief Information Officer
www.credit-suisse.com 123
18. MANAGEMENT
Credit Suisse Private Banking Credit Suisse Asset Management Credit Suisse First Boston
Oswald J. Grübel, Chief Executive Officer Phillip M. Colebatch, Chief Executive Officer Allen D. Wheat, Chairman of the Executive
Board and Chief Executive Officer
Peter A. Derendinger, Chief Financial Officer Joseph D. Gallagher, Chief Financial Officer
and Head of Europe (a.i.) Richard E. Thornburgh, Vice-Chairman of the
Thomas Amstutz, Investment Office
Executive Board and Chief Financial Officer
G. Moffett Cochran V, President of Americas
Moez A. Jamal, Finance & Treasury
Paul Calello, Head of Equity Derivatives and
Toshio Fukuda, Head of Japan
Yves Maas, Operations Convertibles
James McCaughan, Chief Executive Officer
Heinz Roth, Market Group I Christopher Carter, Head of Equity Capital
of Americas
Alexandre Zeller, Market Group II Markets and European Investment Banking
Andrew McKinnon, Head of Australia
Olivier Steimer, Market Group III Anthony F. Daddino, Chief Administrative Officer
Robert Parker, Head of Global
Aldo B. Leoni, Market Group IV Brady W. Dougan, Head of Equities
Institutional Distribution
Alex W. Widmer, Market Group V Bennett J. Goodman, Head of Leveraged
Dilip Rasgotra, Head of Investment Policy Group
Finance
Reto Donatsch, Chief Executive Officer Laurence R. Smith, Chief Investment Officer
Bank Leu Ltd. Gates H. Hawn, Head of Financial Services
Heinrich Wegmann, Head of Switzerland and
James P. Healy, Head of Emerging Markets
Global Retail Coordination
Independent Private Banks
Stephen A.M. Hester, Head of Fixed
Reto Donatsch, Chief Executive Officer Income Division
Bank Leu Ltd.
Hamilton E. James, Co-Head of Investment
Bernard F. Stalder, Chief Executive Officer Banking and Private Equity
Clariden Bank
David C. Mulford, Chairman - International
Markus R. Toedtli, Chief Executive Officer
John Nelson, Chairman - Europe
Bank Hofmann AG
Trevor Price, Head of Developed Markets -
Franco Müller, Chief Executive Officer
Rates
BGP Banca di Gestione Patrimoniale SA
Joe L. Roby, Chairman of the Business Unit
Richard Hambro, Chief Executive Officer
Stephen E. Stonefield, Chairman - Pacific
JO Hambro Investment Management Limited
Charles G. Ward III, Co-Head of Investment
Banking and Private Equity
Senior Management of Credit Suisse Group Corporate Center
Tobias Guldimann, Risk Management
Ahmad Abu El-Ata, Technology
Urs P. Hänni, Audit
Kurt Arnold, Tax
Philip Hess, Chief of Staff
Peter W. Bachmann, Accounting/Reporting
Stefan P. Hilber, Accounting Systems
Gerhard Beindorff, Investor Relations
Jean-Pierre Huwyler, Security
Kim Fox-Moertl, Capital and Funding
Fritz Müller, Tax
David P. Frick, General Counsel
Ulrich Pfister, Public Affairs
Timothy S. Gardner, Human Resources
Karin Rhomberg Hug, Communications
Stefan Goetz, Corporate Development
Yuji Suzuki, Chairman Japan
Alfred Gremli, Advisory
124
19. Advisory Boards of Credit Suisse Group
The Swiss and the International Advisory Boards discuss topics of significant relevance to
Credit Suisse Group’s Swiss and global activities. While not involved in the governance of
the Group, they provide input and advice to Group management on strategic issues, key
operational priorities and organisational development.
Swiss Advisory Board
Ulrich Bremi, Chairman Felix Gutzwiller, Professor and Lukas Mühlemann, Chairman and
Entrepreneur, Zollikon Director of the Institute for Social Chief Executive Officer of Credit
and Preventive Medicine, University Suisse Group, Zurich
Urs Lauffer, Vice-Chairman
of Zurich, and Member of the
Partner Lauffer & Frischknecht, Erich Müller, Member of the Board
Swiss National Council
Zurich of Sulzer AG, Winterthur, and
Riccardo Gullotti, Chairman of the Member of the Swiss National
Franz Albers, Partner Albers & Co.,
Board of Zschokke Holding SA, Council
Zurich
Geneva Gaudenz Staehelin, Member of the
Susy Brüschweiler, Chief Executive
Urs Hammer, Chairman of the Board of Barry Callebaut AG,
Officer of SV Service AG, Zurich
Board and Chief Executive Officer Zurich
Martin Candrian, Entrepreneur, of McDonald’s Suisse Holding SA, Hans-Peter Zehnder, Chairman of
Zurich Crissier the Board of Zehnder Holding AG,
Melchior Ehrler, Director Swiss André Kudelski, Chairman of the Gränichen
Farmers’ Association, Brugg, and Board of Kudelski SA, Cheseaux- Roland Zimmerli, Chairman of the
Member of the Swiss National sur-Lausanne Board of Dätwyler Holding AG,
Council
Heini Lippuner, Member of the Altdorf, and of Von Roll Holding
Brigitta M. Gadient, Attorney-at- Board of Novartis AG, Basle AG, Gerlafingen
law, Chur, and Member of the
Paul Meier, Vice-Chairman of the
Swiss National Council
Board of Neue Aargauer Bank,
Rainer E. Gut, Chairman of the Aarau
Board of Nestlé SA, Vevey, and
Honorary Chairman of Credit
Suisse Group, Zurich
International Advisory Board
Flavio Cotti, Chairman Fritz Gerber, Honorary Chairman Jorge Paulo Lemann, Partner
Former Federal Councillor and Member of the Board of GP Investimentos S/C, São Paulo
Roche Holding SA, Basle
Franco Bernabè, Chairman of Lukas Mühlemann, Chairman and
Franco Bernabè Group, Rome Rainer E. Gut, Chairman of the Chief Executive Officer of Credit
Board of Nestlé SA, Vevey, and Suisse Group, Zurich
Kim B. Clark, Dean of the Faculty,
Honorary Chairman of Credit
Harvard Business School, Boston Agostino Rocca, President and
Suisse Group, Zurich Chief Executive Officer of Techint,
Mario A. Corti, Chairman and
Michael Hilti, Chairman of the Buenos Aires († on 28 April 2001)
Delegate of SAir Group, Zurich
Board of Hilti Corporation, Schaan Manfred Schneider, Chairman of
Thierry Desmarest, Chairman and
Andreas W. Keller, Chairman of the the Board of Management of Bayer
Chief Executive Officer of Total,
Board of Diethelm Keller Holding Aktiengesellschaft, Leverkusen
Paris
AG, Zurich Ernst Tanner, Chairman and Chief
Victor K. Fung, Chairman of the
Andreas N. Koopmann, Chief Executive Officer of Lindt &
Board of Prudential Asia, Hong
Executive Officer of Bobst SA, Sprüngli, Kilchberg
Kong, and of Li & Fung Distribution
Lausanne
Group, Hong Kong
www.credit-suisse.com 125
20. MAIN OFFICES
Credit Suisse Private Banking Credit Suisse First Boston
Credit Suisse Group
Paradeplatz 8 Paradeplatz 8 Uetlibergstrasse 231
P.O. Box 1 P.O. Box 500 P.O. Box 900
8070 Zurich 8070 Zurich 8070 Zurich
Switzerland Switzerland Switzerland
Tel +41 1 212 1616 Tel +41 1 333 4444 Tel +41 1 333 5555
Fax +41 1 333 2587 Fax +41 1 333 6330 Fax +41 1 333 5599
51 locations in Switzerland. Credit Suisse First Boston
Over 40 locations outside Switzerland. Eleven Madison Avenue
New York, NY 10010-3629
Credit Suisse
Paradeplatz 8 USA
P.O. Box 100
8070 Zurich Tel +1 212 325 2000
Credit Suisse Asset Management
Switzerland Giesshübelstrasse 30 Fax + 1 212 325 6665
P.O. Box 800
Tel +41 1 333 1111 8070 Zurich Credit Suisse First Boston
Fax +41 1 332 5555 Switzerland One Cabot Square
London E14 4QJ
235 locations in Switzerland. Tel +41 1 335 1111 England
Fax +41 1 333 2225
Tel +44 20 7888 8888
Fax +44 20 7888 1600
Credit Suisse Asset Management
Beaufort House
Winterthur
General-Guisan-Strasse 40 15 St. Botolph Street 3 locations in Switzerland.
P.O. Box 357 London EC3A 7JJ 73 locations outside Switzerland.
8401 Winterthur England
Switzerland
Tel +44 20 7426 2626
Tel +41 52 261 1111 Fax +44 20 7426 2828
Fax +41 52 213 6620
7 locations in Switzerland.
611 locations in Switzerland. 14 locations outside Switzerland.
Represented in more than 30
countries worldwide.
126
21. INFORMATION FOR INVESTORS
Credit Suisse Group shares
Ticker symbols
Stock exchange listings Bloomberg Reuters Telekurs
SWX (Swiss Exchange) CSGN SW CSGZn.S CSGN,001
Frankfurt CSHN GR CSGZn.F 876800,13
Tokyo 8653JP CSGZn.T N1492,106
Also traded in
1)
New York (ADR) CSGKY US CSGKY.OB CSGKY,130
London (SEAQ) CSG LI CSHZnq.LT C2,182
Paris (OTC) CSHR FP CSHZ.PA 916190,25
1)
4 ADR = 1 registered share until 14.8.2001
1 ADR = 1 registered share as of 15.8.2001
1213853 2)
Swiss security number 146248
2)
ISIN number CH0001462487 CH0012138530
CUSIP number 225 401 108
2)
New identification numbers for Credit Suisse Group registered shares with a par value of CHF 3, effective as of 15.8.2001.
Ratings
Agencies Credit Suisse Group Credit Suisse Credit Suisse First Boston Winterthur
Long term Short term Long term Short term Long term Short term
Moody’s, New York Aa3 - Aa3 P1 A1 P1 Aa3
Standard & Poor’s, New York AA- A1+ AA A1+ AA A1+ AA
Fitch IBCA, New York AA- F1+ AA- F1+ AA F1+ AA-
Enquiries
CREDIT SUISSE GROUP
Investor Relations
Gerhard Beindorff, Andreas Peterlik
Tel. + 41 1 333 4570, + 41 1 333 3169
Fax + 41 1 333 2587
Credit Suisse Group’s
Annual Report 2000/2001
may be ordered from:
CREDIT SUISSE GROUP CREDIT SUISSE
Media Relations CIDM 23
Karin Rhomberg Hug, Andreas Hildenbrand P.O. Box 100
Tel. + 41 1 333 8844 8070 Zurich
Fax + 41 1 333 8877 Switzerland
Fax + 41 1 332 7294
Mailing address: P.O. Box 1, 8070 Zurich, Switzerland
www.credit-suisse.com 127
