Trade Credit Suisse High Yield Bond Fund
Credit Suisse Group AG is a global wealth management company, investment bank, and financial services company based in Switzerland. Headquartered in Zurich, it maintains offices in all major financial centres around the world and is one of nine global banks, Bulge Bracket, which provides services in investment banking, private banking, asset management and shared services. Credit Suisse is known for strict banking secrecy and customers and bank secrecy practices. Credit Suisse was founded in 1856 to finance the development of the railway system in Switzerland. It issued loans that helped establish switzerland's electricity grid and the European railway system. In the 1900s, the shift to retail banking began in response to the rise of the middle class and competition from Swiss banks UBS and Julius Barr. Credit Suisse partnered with First Boston in 1978. After a major loan failed to put Boston first under financial pressure, Credit Suisse bought a controlling stake in the bank in 1988. From 1990 to 2000, the company made a series of acquisitions that significantly increased its market share through purchases by Venture Group, Swiss Volkswagen, Swiss American Securities (SASI) and Leo Bank, among others. Credit Suisse's largest owners include Qatar Holding, U.S. co-financing providers Harris Associates, Dodge & Cox and the Central Bank of Norway, and Saudi Olayan restructured in 2002, 2004 and 2006. It was one of the least affected banks during the global financial crisis, but after This has begun to shrink its investment business, implement layoffs and reduce costs. The bank was at the heart of a multiple international tax avoidance investigation that culminated in a guilty plea and the confiscation of $2.6 billion in fines from 2008 to 2012. In 2017, Credit Suisse had 1.376 trillion Swiss francs of assets under management, an increase of 9.9% over 2016.