95
-5%
3,866 $m
Credit Suisse
This year, Credit Suisse launched a bold advertising campaign, aimed at positioning the firm as a luxury brand. It replaced its Roger Federer “Relaxed” with “The Roger Federer World Tour 2012” — and not a moment too soon. “Relaxed” may not be the right vibe for a global banking leader at this particular moment in history. Like other banks, Credit Suisse has been buffeted by the effects of a slow-starting US economy, the European debt crisis, and many unknowns in Asia. The brand’s new financial reality — declines in both revenue and margins — has led to cuts in global headcount and the Swiss National Bank’s recommendation to ‘’significantly expand its loss-absorbing capital during the current year.’’ Considering the challenges, the bank’s ability to hold steady is impressive. The brand has retained relevance through its continued transition to a more client-focused model, a critical move given the upheaval within its sector. This model extends to the brand’s corporate citizenship effort, use of social media channels and a multi-year talent and cultural-building effort. The hard work has paid off. This year, Credit Suisse stands as the lone representative of the Swiss banking tradition among the world’s brand elite.