2. Cautionary statement
Cautionary statement regarding forward-looking and non-GAAP information
This presentation contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995.
Forward-looking statements involve inherent risks and uncertainties, and we might not be
able to achieve the predictions, forecasts, projections and other outcomes we describe
or imply in forward-looking statements.
A number of important factors could cause results to differ materially from the plans,
objectives, expectations, estimates and intentions we express in these forward-looking
statements, including those we identify in quot;Risk Factorsquot; in our Annual Report on Form
20-F for the fiscal year ended December 31, 2007 filed with the US Securities and
Exchange Commission, and in other public filings and press releases.
We do not intend to update these forward-looking statements except as may be required
by applicable laws.
This presentation contains non-GAAP financial information. Information needed to
reconcile such non-GAAP financial information to the most directly comparable measures
under GAAP can be found in Credit Suisse Group's third quarter report 2008.
Vontobel Bankentag
November 19, 2008, Page 2
3. Agenda
Status and Strategy Overview
International Growth
Client Centricity
The Integrated Bank
Efficiency Management
Wrap-up
Vontobel Bankentag
November 19, 2008, Page 3
4. Performance has held up well in Private Banking
WM net revenues (CHF bn) WM PTI (CHF bn)
+13% p.a. +14% p.a.
9.6 3.9
8.2 3.2
6.7 7.1 6.7 2.7
2.6 2.41)
2.1
04 05 06 07 9m08 04 05 06 07 9m08
CRB net revenues (CHF bn) CRB PTI (CHF bn)
+6% p.a. +13% p.a.
1.4 1.6
3.4 3.5 3.9 1.1 1.3 1.3
3.3 3.0
04 05 06 07 9m08 04 05 06 07 9m08
1) Excluding provisions related to auction rate securities of CHF 310m Vontobel Bankentag
November 19, 2008, Page 4
6. Challenges in Private Banking
! Short-term: Industry challenges Credit Suisse Private Banking
- Lower asset base is comparatively well positioned
- Less client activity
- Less trust in financial institutions and ! Stable business with sustained
complex products profitability despite market
turbulences
! Medium-term: Regulatory challenges ! Unique value proposition based
- Cross-border regulation on Client Centricity and the
- Investor protection Integrated Bank
! Long-term: Intact growth prospects ! Global presence
- Private Investment Banking
- Emerging markets
- Generational transfers of wealth
Vontobel Bankentag
November 19, 2008, Page 6
7. We continue to persistently implement our strategy
Premier global
Market share Integrating Productivity private bank
International Client
gains in the banking and financial Best people
growth Centricity
Switzerland businesses performance Premier bank
in Switzerland
Actively managed portfolio of initiatives and projects
Vontobel Bankentag
November 19, 2008, Page 7
8. Agenda
Status and Strategy Overview
International Growth
Client Centricity
The Integrated Bank
Efficiency Management
Wrap-up
Vontobel Bankentag
November 19, 2008, Page 8
9. Strong growth in international mature markets and
increased presence in key emerging markets
! Switzerland: 217 CRB locations, 80 WM locations
! Austria: 2 locations
! France: 3 locations
London ! Germany: 14 locations
Guernsey Luxembourg ! Italy: 38 locations
Frankfurt ! Spain: 3 locations
Paris Vienna ! United Kingdom: 4 locations
Lisbon Zurich Milan
Madrid Monaco St. Petersburg
Moscow
Northbrook Boston Gibraltar
San Francisco Chicago Kiev
Greenwich Beijing
Philadelphia New York Istanbul Almaty
Los Angeles Dallas Athens
Baltimore Beirut
Irvine Houston Atlanta Palm Beach Tel Aviv Shanghai
Miami Nassau Cairo Manama
Doha Dubai Guangzhou
Mexico Riyadh Abu Dhabi Hong Kong Taipei
Mumbai Bangkok
Panama
Caracas
Bogotá Kuala Lumpur
Singapore
Lima Jakarta
Rio de Janeiro
São Paulo Johannesburg
Montevideo
Buenos Aires Cape Town Sydney
Santiago
Melbourne
18 new locations/
Locations 4 new markets
since 2007
Vontobel Bankentag
November 19, 2008, Page 9
10. Why clients book cross-border
Geographical risk diversification
Enhanced product and service offering
Confidentiality
Multi-domiciled clients
Vontobel Bankentag
November 19, 2008, Page 10
11. Strong hiring in 2008 with international focus
RMs WM
! 95% of RM growth internationally
3,480 470
APAC: 140 ! RM fluctuation rate well below 8%
Americas: 160
3,010 EMEA: 150 ! 2/3 of RMs hired externally,
CH: 20 1/3 of RMs developed internally
! 40% of NNA from recent hires
! Break-even of new hires typically
after 18-24 months
3Q07 3Q08 Net new ! 5-7 years to reach average RM
RMs profit level
Vontobel Bankentag
November 19, 2008, Page 11
12. Agenda
Status and Strategy Overview
International Growth
Client Centricity
The Integrated Bank
Efficiency Management
Wrap-up
Vontobel Bankentag
November 19, 2008, Page 12
13. Client Centricity - Overview
Client
understanding
Client Client
Life- ycle phase
segmentation satisfaction
e
c
r t yp
io
v
ha
Be
Source of wealth
Client value
propositions
Vontobel Bankentag
November 19, 2008, Page 13
14. Client understanding based on Advisory Process
! Proven concept
- In use since 2003
- Honored for innovation and strategic
achievement
! Global roll-out
- Fully rolled out in Switzerland
- Roll-out to all major international locations until
end of 2008
! State-of-the-art tool support
- Systematically integrated in front IT applications
- Documented in dedicated client reportings
! Continuous enhancement - e.g.,
- Core-Satellite approach
- Risk Analyzer
Vontobel Bankentag
November 19, 2008, Page 14
15. Client segmentation: Multi-dimensional action oriented
segmentation
Client behavior Basis for value
! Risk profile propositions
Client background
! Behavior type ! Client targeting
! Life cycle/age
! Sophistication ! Client coverage
! Domicile/residence
! Trading activity ! Product offering
! Family situation
Behavior ! Client development
! Gender/hobbies type
Client wealth
! AuM (total/with CS)
! Source of wealth
Vontobel Bankentag
November 19, 2008, Page 15
16. Segment specific value propositions:
Example Entrepreneurs
! Become the premier bank for Entrepreneurs to manage both
Overall ambition
private and corporate wealth
! Dedicated coverage teams in Switzerland and key international
Client targeting
markets
&
! Seasoned RMs (10+ years advisory experience)
coverage
! Solution Partners leveraging the Integrated Bank
! Succession planning, tax advisory and financial planning
! Investment Banking services: Corporate finance, debt/equity
Anchor products consulting, structured finance
& ! Exclusive investment opportunities – matchmaking
services ! Asset Management services: Asset protection, short term asset
management, pension solutions
! Plus in Switzerland: Comprehensive Corporate Banking offering
Vontobel Bankentag
November 19, 2008, Page 16
17. Client satisfaction is key to our business
Percentage of clients (%) NNA growth (%) Net promoter score1) (%)
Extremely satisfied/ 63 4 42
Very satisfied
Satisfied 31 2 -47
Source: 2007 sample of Swiss clients Vontobel Bankentag
1) % promoters (scale 9/10) minus % detractors (scale 1-6) based on the question: quot;How likely is November 19, 2008, Page 17
it that you would recommend Credit Suisse to a friend or a colleague?quot; (scale 1-10)
18. Agenda
Status and Strategy Overview
International Growth
Client Centricity
The Integrated Bank
Efficiency Management
Wrap-up
Vontobel Bankentag
November 19, 2008, Page 18
19. Unique value proposition to Private Banking clients
through integrated coverage and solution delivery
Client
Relationship Manager
Solution Specialists
Investment Banking Private Banking Asset Management
! Traditional services: ! Financial planning and ! Traditional Investment
Equities, FI, FX, prime investment consulting: funds: Equities, FI,..
services, research,.. Pension planning, trust ! Discretionary mandates
! Alternative Investments: services, inheritance & tax ! Alternative Investments:
Structured products, consulting,.. Private equity, hedge
commodities,.. ! Banking products: Pay- funds, real estate,..
! Corporate Finance ments, deposits, lending, ! Labeled fund solutions
Services: M&A, equity/ leasing, cards,..
! ...
debt capital markets,..
Shared Services
Vontobel Bankentag
November 19, 2008, Page 19
20. Leveraging the Integrated Bank: Key examples
International growth Solution Partners team
! Leverage of local IB and ! Enabling of RMs to find out
AM presences for PB quickly what the entire bank
market entries can offer
! Expanded client value ! Leverage of IB and AM capa-
propositions in bilities for UHNWI clients
international locations ! Customized solutions across
through leverage of One all asset classes with
Bank capabilities institutional discipline
Alternative investments Key Client Coverage
! Leverage of best-in-class ! Cross-divisional client
capabilities in IB and AM coverage management for
! In addition, comprehen- largest clients in all regions
sive 3rd party advisory ! Particularly broad effort in
services Switzerland, with 1,250
! Joint delivery of full clients covered and over
product services along 1,150 employees involved
life cycle in cross-divisional teams
Vontobel Bankentag
November 19, 2008, Page 20
21. Integrated Bank model maintains momentum despite
challenging markets
Gross margin with Wealth Management clients (in bps)1)
129 130
Referred 14 16
to IB/AM
115 114
Booked in
Wealth
Management
9m07 9m08
1) Annualized Vontobel Bankentag
November 19, 2008, Page 21
22. Agenda
Status and Strategy Overview
International Growth
Client Centricity
The Integrated Bank
Efficiency Management
Wrap-up
Vontobel Bankentag
November 19, 2008, Page 22
23. Building blocks of PB Efficiency Management
PB Efficiency Management framework (part of Bank Efficiency Management)
Efficiency Management building blocks
Enabler/supporting initiatives
Centers of Excellence
Incenti-
Efficiency Demand Client Efficiency
Planning & visation
transparency manage- profitability initiatives &
budgeting & remu-
& reporting ment steering projects
neration
Operational Excellence
Vontobel Bankentag
November 19, 2008, Page 23
24. Centers of Excellence and Operational Excellence
Initiatives Benefits
Centers of ! PB CoE in Wroclaw/Poland: ! Leverage of global workforce and
Excellence - PB Operations know-how
(CoE) - COO Services ! Economies of scale and location
! IT CoEs – e.g., Pune/India, ! Higher focus on core businesses
Singapore ! Reduced time-to-market and more
flexibility
Operational ! OE as quot;Business as usualquot;: ! Continuous improvement of
Excellence - > 5,000 OE trainings since business processes and project
(OE) beginning management
- Currently, 120 'Black Belts'/ ! Global leverage of quot;Lean Sigmaquot;
20 'Master Black Belts' approach
Vontobel Bankentag
November 19, 2008, Page 24
25. Efficiency initiatives and projects
Revenue ! Active product and service management
efficiency ! Excellence in Price Management
Cost ! Numerous cost projects based on Operational Excellence
efficiency ! Cost savings of CHF 100-200m p.a.
Vontobel Bankentag
November 19, 2008, Page 25
26. Agenda
Status and Strategy Overview
International Growth
Client Centricity
The Integrated Bank
Efficiency Management
Wrap-up
Vontobel Bankentag
November 19, 2008, Page 26
27. Our target: Delivering strong results, while investing
continuously and significantly in growth
Continued growth investments Medium term-targets
! International onshore platforms
! Front-office hiring
Pre-tax income margin
Strong client focus
> 40%
! Client Centricity
! Integrated Bank
Net new assets growth
Stringent efficiency management
> 6% (WM only)
! Product and price management
! Centers of Excellence/
Operational Excellence
Vontobel Bankentag
November 19, 2008, Page 27
28. Summary
Results have shown resilience despite market dislocation
Strong asset gathering and hiring trends across all regions
Unique value proposition based on Client Centricity and the
Integrated Bank
Private Banking offers unique growth
prospects within the financial services industry
Vontobel Bankentag
November 19, 2008, Page 28
