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Credit suisse: Strategy

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Credit suisse: Strategy

  1. 1. CREDIT SUISSE GROUP AG: STRATEGY Strategic Management (STMT) Prof. Mahesh Narayan Goutham K S Term 3 2011-13 11214 Goutham K S 1
  2. 2. Headquarters Zurich, Switzerland Year of 1856 foundation Employees 49,700 Reach 405 offices in 55 countries Listings SIX(Switzerland) and NYSE Ratings Standard & Poor – A Moody – Aa2 Fitch - A Goutham K S 2
  3. 3. Our aspiration is to become one of the world's most admired banks. We believe our ability to serve clients globally with solutions tailored to their individual Vision needs is a strong competitive advantage. We pursue a client-focused integrated bank strategy, focusing on complex client needs and value-adding businesses, leveraging the global Strategy expertise of our three divisions, Private Banking, Investment Banking and Asset Management. Building on the momentum we have established, we aim to further grow our client business with gains in market share and a strengthened geographic Priorities footprint. Goutham K S 3
  4. 4. Political Economical Antipathy towards foreign • Recessionary phase banks • Stringent economic policies worldwide – Basel III Social Technological Emerging economies uses Leveraging of technology non-banking financial services for banking solutions Goutham K S 4
  5. 5. Strengths Weaknesses • Part of ‘bulge bracket’ • Strong franchises in core • Poor publicity and brand business visibility • Sufficient liquidity and strong • Low performance in investment capital base banking • Wide global reach • Weak expense management • Merger of private banking impacting margins operations SWOT Opportunities Threats • Growing forex market • Global economic • Buoyant Asset management slowdown, especially Europe’s • Expansion in emerging •Stringent economic policies over economies the world • Intense industry rivalry Goutham K S 5
  6. 6. • Strong franchising can help in entering emerging SO economies • Strong capital base can aid in capturing growing forex Strategy market and buoyant asset management ST • Good position in liquidity and capital base can help pass through recessionary phase Strategy WO • Better publicity can be used when entering new market • Low performance of the company is in Investment Banking Strategy but asset management and forex market is growing WT • Recession and/or intense competition coupled with weaker control cost should not drain away the revenues Strategy Goutham K S 6
  7. 7. - High for low brackets and low Threat of for higher brackets. - Many entrants after Entrants liberalization policies across globe High. Some of Low due to the divisions of -Good sense of Industry banking are Suppliers Buyers brand loyalty competitors mainly based on - Quality relationships conscious Intense rivalry impacting margins High due to non- Threat of banking finance Substitutes companies offering similar services Goutham K S 7
  8. 8. Porter’s Diamond with context to India Numerous public sector Credit Suisse is located banks, and private sector in India at Mumbai and Firm Strategy banks post liberalization New Delhi and Rivalry - Robust and - Rise of High net stable market Factor Demand worth companies - Antipathy of RBI conditions conditions and individuals towards foreign - Unexplored banks financial inclusion services Related and supported Mature capital industries market – BSE & NSE Goutham K S 8
  9. 9. Lower Cost Uniqueness Broad Position of Target Credit Suisse Generic Competitive Scope Strategy Narrow target Competitive Advantage Goutham K S 9
  10. 10. Size of the box is proportional to significance level of function Firm Infrastructure Human Resource Technology Development Operations Marketing Service & Sales Goutham K S 10
  11. 11. Horizontal Strategy 1978 Strategic alliance with First Boston 1987 Acquisition of stockbrokers Buckmaster & Moore 1988 Controlling stake in First Boston 1990 Acquisition of Bank Leu 1993 Acquisition of Swiss Volksbank 1994 Strategic alliance with Swiss Re 1995 Strategic alliance with Winterthur group 1997 Merger with Winterthur group 2000 Acquisition of Donaldson, Lufkin & Jenrette 2006 Divests Winterthur and retires First Boston affiliation Goutham K S 11
  12. 12. One Bank Model What ? Investment Banking, Wealth management, Asset Management and Private Banking all under one roof. When ? Adopted in 2006 Why ? One stop solution for Ultra High Net worth (UHNW) businesses How ? Referrals from one division to another. e.g. Investment banking division refers its client of M&A to private banking division Risky ? Yes, especially during downturns. Probably only successful company using this model. All its Competitors have separate divisions. Goutham K S 12
  13. 13. Branding Advertising initiative was taken to shed its poor visibility 2001-2005: Majority shareholder in Sauber F1 team 2006-2009: Active Sponsor of then BMW-Sauber Sponsor of Switzerland national football team Sponsor of Roger Federer Goutham K S 13
  14. 14. References T www.credit-suisse.com H E E N D Goutham K S 14

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