Clariden Leu was a Swiss
private bank
Private banks are banks owned by either the individual or a general partner(s) with limited partner(s). Private banks are not incorporated. In any such case, creditors can look to both the "entirety of the bank's assets" as well as the entire ...
based in
Zurich
Zurich (; ) is the list of cities in Switzerland, largest city in Switzerland and the capital of the canton of Zurich. It is in north-central Switzerland, at the northwestern tip of Lake Zurich. , the municipality had 448,664 inhabitants. The ...
and
Geneva
Geneva ( , ; ) ; ; . is the List of cities in Switzerland, second-most populous city in Switzerland and the most populous in French-speaking Romandy. Situated in the southwest of the country, where the Rhône exits Lake Geneva, it is the ca ...
Switzerland
Switzerland, officially the Swiss Confederation, is a landlocked country located in west-central Europe. It is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland ...
founded in 2007 by Clariden president Alex Hoffmann and
Credit Suisse Group
Credit Suisse Group AG (, ) was a global Investment banking, investment bank and financial services firm founded and based in Switzerland. According to UBS, eventually Credit Suisse was to be fully integrated into UBS. While the integration ...
.
Until 2007 it was operating as Clariden Bank an independent Private Bank belonging both to Credit Suisse Group and management at the bank. It was then fully merged with Credit Suisse Group in 2007 when Hoffmann retired after running the bank for almost 40 years as subsequently co-founder, CEO and President.
History
In 1974, Hoffmann married his first wife Theresa Braitenberg. They had two sons: Phillippe Buri who died of
cancer
Cancer is a group of diseases involving Cell growth#Disorders, abnormal cell growth with the potential to Invasion (cancer), invade or Metastasis, spread to other parts of the body. These contrast with benign tumors, which do not spread. Po ...
in 1993, and Patrick Buri born in 1972 who is an
investor
An investor is a person who allocates financial capital with the expectation of a future Return on capital, return (profit) or to gain an advantage (interest). Through this allocated capital the investor usually purchases some species of pr ...
,
political science
Political science is the scientific study of politics. It is a social science dealing with systems of governance and Power (social and political), power, and the analysis of political activities, political philosophy, political thought, polit ...
advisor,
philanthropist
Philanthropy is a form of altruism that consists of "private initiatives for the public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private good, focusing on material ...
,
investment manager
Investment management (sometimes referred to more generally as financial asset management) is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified inve ...
and board member on several subsidiaries and companies, former partner at Lion trust asset management and billionaire chairman at Bankset Group Holding and philanthropist and graduate from Columbia University New York;
J. P. Buri was the son of the General Partner at Bank Heusser Bernard Buri, and Clariden merged with Bank Heusser Buri based in Basel to gradually acquire the four
Credit Suisse
Credit Suisse Group AG (, ) was a global Investment banking, investment bank and financial services firm founded and based in Switzerland. According to UBS, eventually Credit Suisse was to be fully integrated into UBS. While the integration ...
private banks:
Bank Leu, Bank Hofmann, and BGP Banca di Gestione Patrimoniale together with the securities dealer Credit Suisse Fides on January 26, 2007, Clariden Leu was one of the largest private banks in Switzerland and ultimately managed more than 100 billion CHF.
Robert L. Genillard was also co founder at Clariden Bank representing Credit Suisse Group.
That compares with Credit Suisse’s targets for its private banking business as a whole to add at least 6 percent of
assets under management
In finance, assets under management (AUM), sometimes called fund under management, refers to the total market value of all financial assets that a financial institution—such as a mutual fund, venture capital firm, or depository institutio ...
in net new money annually. Clariden Leu posted pretax earnings of 260 million francs in 2006 on revenue of 1.07 billion francs.
On November 15, 2011, Credit Suisse Group AG announced its intent to integrate its subsidiary Clariden Leu fully into Credit Suisse.
Merger with Credit Suisse
Credit Suisse merged with Clariden Leu on April 2, 2012, acquiring all of Clariden Leu's assets and liabilities and assuming all of its rights and obligations. The merger made Bank Leu AG and Clariden Leu Holding AG part of Credit Suisse Group AG.
References
External links
PRIVATE BANKING
{{Authority control
Banks established in 1775
Banks based in Zurich
Private banks
Credit Suisse