Following is a timeline outlining the 167-year history of Credit Suisse Group , the Zurich-based bank that is in the middle of a restructuring to rebuild after a string of scandals, losses and management upheavals.
Politician and business leader Alfred Escher founds Schweizerische Kreditanstalt to finance the expansion of the railroad network and promote Swiss industrialisation.The bank moves into new headquarters on Zurich's Paradeplatz; its first branch outside Zurich opens in Basel nearly three decades later.SKA creates Swiss American Corporation to focus on the underwriting and investment business.SKA takes over White, Weld and Co AG in Zurich from U.S.
The group buys the asset management business of Warburg, Pincus & Co, followed by the purchase of Wall Street firm Donaldson, Lufkin & Jenrette a year later.A reorganisation creates two units: Credit Suisse Financial Services and Credit Suisse First Boston; two years later it splits into three units by adding Winterthur.The group divests Winterthur to French insurer AXA.The group merges four private banking units and a securities trading company into Clariden Leu.
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