.credit-suisse Annual Review Part 5 Consolidated results Income statement Balance sheet Off-balance...

ANNUAL REVIEW 2000 PART V

CONSOLIDATED RESULTS

MANAGEMENT

PART I

2 Financial highlights 2000

4 Editorial

PART II

6 An overview of Credit Suisse Group8 Strategic review

12 Organisation14 Financial review

PART III

18 Review of business units 20 Credit Suisse Financial Services26 Credit Suisse Private Banking29 Credit Suisse Asset Management 32 Credit Suisse First Boston

36 Risk management

PART IV

38 Our broader responsibilities

PART V

44 Consolidated results 46 Income statement47 Balance sheet48 Off-balance sheet business48 Selected notes to the consolidated financial

statements

52 Management

57 Main offices

58 Information for investors

www.credit-suisse.com 45


Income statementInterest and discount incomeInterest and dividend income from trading portfoliosInterest and dividend income from financial investments Interest expenses

Net interest income

Commission income from lending activitiesCommissions from securities and investment transactionsCommissions from other servicesCommission expenses

Net commission and service fee income

Net trading income

Premiums earned, netClaims incurred and actuarial provisionsCommission expenses, netInvestment income from the insurance business

Net income from the insurance business

Income from the sale of financial investmentsIncome from investment activities– of which from participations valued according to the equity method– of which from other non-consolidated participationsReal estate incomeSundry ordinary incomeSundry ordinary expenses

Other ordinary income/expenses, net

Operating income

Personnel expensesOther operating expenses

Operating expenses

Gross operating profit

Depreciation and write-offs on non-current assetsAmortisation of goodwillValuation adjustments, provisions and losses from the banking business

Depreciation, valuation adjustments, losses

Profit before extraordinary items, taxes and minority interests

Extraordinary incomeExtraordinary expensesTaxes

Profit before minority interests

Minority interests

Net profit

1) Consistent with the presentation of 2000 figures, interest income and expenses have each been restated by CHF 2,242 m.2) Consistent with the presentation of 2000 figures, CHF 185 m has been reclassified from interest and dividend income from financial investments to interest and

discount income.

Previouslyreported

1999in CHF m

19,3804,127

471) (18,726

5,252

59410,523

393) (640

10,870

6,578

26,203) (27,120) (2,157

8,134

5,060

505124952933

703) (1,255

) 110

27,870

13,5095,229

18,738

9,132

937108

1,540

2,585

6,547

93) (152) (1,149

5,339

) (118

5,221

Change to previously

reportedin %

1) 2) 5642

2) 50) 1) 68

1

215270

) 30

53

34

9) 7) (2

4

22

10375

109(3832477

) 80

232

34

3727

34

32

61128(18

17

38

13) –) 17

13

) 101

11

)

)

)

New basis1999

in CHF m

19,3804,127

471) (18,640

5,338

59410,504

393) (635

10,856

6,578

26,146) (26,893) (1,743

6,656

4,166

50590781224

574) (1,487

(294

26,644

13,5545,227

18,781

7,863

981110

1,540

2,631

5,232

93) (152) (855

4,318

) (68

4,250

2000in CHF m

30,1815,865

706(31,439

5,313

71716,039

669(829

16,596

8,791

28,690(28,900(2,1138,489

6,166

1,02321719918

1401,243

(2,258

365

37,231

18,5036,645

25,148

12,083

1,510246

1,265

3,021

9,062

105(1,796(1,349

6,022

(237

5,785

46

http://www.credit-suisse.com/annualreview2000/bookmarks.html

Balance sheetAssetsCash and other liquid assets Money market papersDue from banksReceivables from the insurance businessDue from customers MortgagesSecurities and precious metals trading portfoliosFinancial investments from the banking businessInvestments from the insurance businessNon-consolidated participationsTangible fixed assetsIntangible assetsAccrued income and prepaid expensesOther assets

Total assets

Total subordinated assetsTotal due from non-consolidated participations

Liabilities and shareholders’ equityMoney market papers issuedDue to banksPayables from the insurance businessDue to customers in savings and investment depositsDue to customers, otherMedium-term notes (cash bonds)Bonds and mortgage-backed bonds Accrued expenses and deferred income Other liabilitiesValuation adjustments and provisionsTechnical provisions for the insurance business

Total liabilities

Reserve for general banking risksShare capital Capital reserveRevaluation reserves from the insurance businessReserve for own sharesRetained earnings Minority interestsNet profit

Total shareholders’ equity

Total liabilities and shareholders’ equity

Total subordinated liabilitiesTotal liabilities due to non-consolidated participations

Change topreviously

reportedin %

(74

4853387

5736130

456798123

37

172(17

58141

(1117

(173788105323

37

91070

(310

1844711

27

37

204

Previouslyreported

31 Dec. 1999in CHF m

3,14128,994

164,9016,457

104,93186,553

126,74618,828

117,2221,8236,8282,9909,023

44,309

722,746

1,792928

22,120198,324

6,26844,007

182,2493,885

47,90514,91652,5778,566

107,561

688,378

2,1315,444

11,6966,977

600552

1,7475,221

34,368

722,746

18,194749

)

)

)

)

)

New basis31 Dec. 1999

in CHF m

3,14128,994

164,8837,152

104,93177,763

126,74618,828

117,7711,7899,0114,737

11,81451,462

729,022

1,792928

22,120198,843

6,35544,007

182,0823,884

46,66914,95251,22714,219

113,981

698,339

2,1315,444

11,7005,515

600(111)1,1544,250

30,683

729,022

17,898749


2,92830,127

243,6929,871

145,25792,432

198,91725,574

132,6321,8299,913

23,29916,29454,668

987,433

4,876771

23,176359,441

8,80739,233

213,5493,225

65,52428,02157,65313,107

132,175

943,911

2,3196,009

19,8824,789

6001,5672,5715,785

43,522

987,433

21,801779



Off-balance sheet businessContingent liabilitiesCredit guarantees in form of avals, guarantees

and indemnity liabilities Bid bonds, delivery and performance bonds,

letters of indemnity, other performance-related guarantees Irrevocable commitments in respect of documentary credits Other contingent liabilities

Total contingent liabilities

Irrevocable commitments

Liabilities for calls on shares and other equity

Confirmed credits

Fiduciary transactions

Derivative instrumentsInterest rate productsForeign exchange productsPrecious metals productsEquity/index-related productsOther products

Total derivative instruments

Changein %

4

) (8) (3

30

5

5

510

) (34

12

New basis31 Dec. 1999Negative gross

replacementvalue

in CHF bn

59.928.01.9

24.10.7

114.6

))

)

Changein CHF m

258

(438(82

1,156

894

6,438

255

(76

4,603

New basis31 Dec. 1999Positive gross

replacementvalue

in CHF bn

62.125.32.1

22.60.8

112.9


6,755

5,2623,2243,870

19,111

120,560

50

226

37,371


Nominalvalue

in CHF bn

5,781.51,069.3

28.8438.825.3

7,343.7


7,013

4,8243,1425,026

20,005

126,998

305

150

41,974

31 Dec. 2000Negative gross

replacementvalue

in CHF bn

66.332.12.0

18.13.3

121.8

31 Dec. 2000Positive gross

replacementvalue

in CHF bn

66.430.41.5

15.22.7

116.2

31 Dec. 2000Nominal

valuein CHF bn

5,793.31,139.4

34.8473.980.4

7,521.8

Selected notes to the consolidated financial statements

USD translation ratesIncome statementBalance sheet

Securities and precious metals trading portfoliosDebt instruments

– listed on stock exchange– unlisted

– of which own bonds and medium-term notesEquity instruments– of which own sharesPrecious metals

Total securities and precious metals trading portfolios

– of which securities rediscountable or pledgeable at central banks

1999

1.49001.5979

Changein %

6229

11845450

1203

57

68

2000

1.67001.6346

Changein CHF m

49,72614,22635,500

68622,3834,082

62

72,171

29,321


79,63649,45830,178

15145,1523,3921,958

126,746

43,297


129,36263,68465,678

83767,5357,4742,020

198,917

72,618

48

Split of income statement: banking/insurance1)

Net interest income Net commission and service incomeNet trading incomeIncome from insurance businessOther ordinary income (/expenses), net

Operating income

Personnel expenses Other operating expenses

Operating expenses

Gross operating profit

Depreciation and write-offs on non-current assetsAmortisation of goodwillValuation adjustments, provisions and losses

Depreciation, valuation adjustments, losses

Profit before extraordinary items,taxes and minority interests

Extraordinary incomeExtraordinary expensesTaxes

Net profit before minority interests

Minority interests

Net profit

1) Income statements for banking and insurance business are presented on a stand-alone basis.2) Expenses from the handling of both claims and investments are allocated to the income from insurance business, of which CHF 525 m (new basis 1999: CHF 511 m;

previously reported 1999: CHF 618 m) are related to personnel expenses and CHF 355 m (new basis 1999: CHF 579 m; previously reported 1999: CHF 487 m) toother operating expenses.

Banking business TotalInsurance business

2000in CHF m

5,23916,6298,791

01,046

31,705

16,4995,279

21,778

9,927

1,249215

1,265

2,729

7,198

105(1,796

(943

4,564

(91

4,473

1999in CHF m

5,25210,8706,578

0577

23,277

11,7544,026

15,780

7,497

828101

1,540

2,469

5,028

93) (152) (809

4,160

) (28

4,132

2000in CHF m

000

6,197(666

5,531

2,0041,366

3,370

2,161

261310

292

1,869

0) 0) (406

1,463

) (146

1,317

New basis1999

in CHF m

000

2) 4,226) (853

3,3732) 1,8002) 1,201

3,001

372

15390

162

210

00

) (45

165

) (40

125

2000in CHF m

5,31316,5968,791

2) 6,166) 365

37,2312) 18,5032) 6,645

25,148

12,083

1,510246

1,265

3,021

9,062

105(1,796

) (1,349

6,022

) (237

5,785

New basis1999

in CHF m

5,33810,8566,5784,166(294

26,644

13,5545,227

18,781

7,863

981110

1,540

2,631

5,232

93) (152) (855

4,318

) (68

4,250

Previouslyreported

1999in CHF m

5,25210,8706,5785,060

) 110

27,870

13,5095,229

18,738

9,132

937108

1,540

2,585

6,547

93) (152)) (1,149)

5,339

) (118)

5,221

Previously reported

1999in CHF m

000

2) 5,060) (467

4,5932) 1,7552) 1,203

2,958

1,635

10970

116

1,519

00

) (340

1,179

) (90

1,089

Statement of shareholders’ equityTotal shareholders’ equity at beginning of financial yearReclassification from valuation adjustments and provisions(Release/) allocation of reserves for general banking risks, netDividends paidCapital increases, par value and capital surplusCapital increases, minority interestsAcquisition of minority interestsChanges in scope of consolidation affecting minority interestsConsolidation of previously not-fully-consolidated subsidiariesForeign exchange differencesChange in revaluation reserve from the insurance business, netMinimum pension liability adjustmentMinority interests in net profitNet profit

Total shareholders’ equity at end of financial year

1) Numbers are not comparable to those published in 1999, as minority interests have been combined in one line item.

1) Change topreviously

reportedin %

9100128

) 39--

) (100)(16)

) (100)(154)(150)

-10111

27

Previouslyreported

1999in CHF m

28,1623

80) (1,430

7593

) (1,015226(71

1,313) 999

0118

5,221

34,368

New basis1999

in CHF m

26,5603

80) (1,430

7633

) (643226

0) 1,318) (516

168

4,250

30,683

2000in CHF m

30,6836

182(1,9868,716

911(1

1900

(703(496

(2)237

5,785

43,522


Fair ValueNew basis1)

Dec. 1999in CHF m

16,59344,193

60,786

7,04822,199

29,247

2,2097,903

10,112


Investments from the insurance businessDebt instruments 1)

Non-lifeLife

Total debt instruments

Equity instumentsNon-lifeLife

Total equity instruments

MortgagesNon-lifeLife

Total mortgages

Real estateNon-lifeLife

Total real estate

LoansNon-lifeLife

Total loans

Short-term investmentsNon-lifeLife

Total short-term investments

Non-consolidated participationsNon-lifeLife

Total non-consolidated participations

Investments where investment risk is borne by the policyholder

Equity instrumentsDebt instruments and loans Short-term investments Real estate

Total investments where investment risk is borne by the policyholder

Total investments (insurance view)

Less bonds, loans issued by group companies, non-consolidated participations and own used real estate not included in the investments from the insurance business

Less mortgages, previously not included ininvestments from the insurance business

Total investments from the insurance business

1) Cost column balance represent amortised costs.2) In previously reported 1999 financial statements, loans were reported together with debt instruments.


in CHF m

16,59344,193

60,786

7,04822,199

29,247

2,2097,903

10,112

n/an/a

n/a


17,48047,586

65,066

6,52925,248

31,777

2,1768,182

10,358


in CHF m

16,40543,149

59,554

4,62414,013

18,637

1,9427,114

9,056


17,18146,510

63,691

5,02519,127

24,152

1,8827,139

9,021

)

)


in CHF m

16,59344,193

60,786

7,04822,199

29,247

1,3357,442

8,777

1,6605,775

7,435

1364,307

4,443

1,270407

1,677

31585

400

5,360988918104

7,370

120,135

) (2,364

117,771

Previouslyreported


2) 16,5922) 48,477

65,069

7,13723,621

30,758

1,3367,454

8,790

4,1768,839

13,015

2) 02) 0

0

1,201477

1,678

34787

434

4,912788898104

6,702

126,446

) (434

(8,790

117,222


17,48047,586

65,066

6,52925,248

31,777

1,8697,555

9,424

1,5855,773

7,358

1544,324

4,478

1,8581,590

3,448

192205

397

10,1361,2331,402

118

12,889

134,837

(2,205

132,632

Book Value Cost Market Value

50

Risk commentary

During the year 2000, Credit SuisseGroup continued to focus on improv-ing the risk/return characteristics ofits businesses. The associated effortshave been particularly pronounced atCredit Suisse First Boston, where riskreductions in emerging market andreal-estate exposures have offsetmost of the impact of the acquisitionof Donaldson, Lufkin & Jenrette.

Trading exposures at Credit Suisse First BostonTwo developments characterise theevolution of Credit Suisse FirstBoston’s Value-at-Risk (VaR) over thecourse of the year. First, Credit SuisseFirst Boston maintained a disciplinedapproach and held its level of marketrisk stable over the year, even whileabsorbing the impact of DLJ activitiesin the fourth quarter of 2000. Second,effective 31 May 2000, the SwissFederal Banking Commission ap-proved the revised VaR model for usein the calculation of market risk capital.As illustrated by the backtesting chart,the methodology change has reducedthe degree of extreme model conser-vatism without affecting the conserva-tive nature of the VaR model (actualtrading results are well within the VaRband even after the adoption of therevised model).

Asset qualityDriven by the Group’s selectivityregarding counterparties, the overallasset quality of Credit Suisse Groupremains solid – with approximately80% of exposures falling to invest-ment grade or equivalently-rated coun-terparties. Concentration risks arestrictly limited – for instance, expo-sures to the telecom sector amountedto only 3.5% of total credit exposuresat year end 2000 – and provisioninglevels are stable.

Asset quality credit exposure & provisions developmentNon-performing loans (NPLs) 1)

Capital provisions against NPLs 2)

Coverage ratio of NPLs31.12.200031.12.1999NPLs as percentage of credit exposure31.12.200031.12.1999

1) Includes loans and loan equivalents.2) Excludes total interest of CHF 1,906 m (fully provided).

113,4131,8198,889,7

CreditSuisseGroup

31 Dec. 2000 in CHF m

9,8266,191

63%63%

2.40%3.40%

4,1

113,5

201,9

CreditSuisse

FirstBoston


1,479989

67%84%

0.60%0.90%

CreditSuissePrivate

Banking31 Dec. 2000

in CHF m

11160

54%75%

0.30%0.30%

1st quarter 2000 2nd quarter 2000 3rd quarter 2000 4th quarter 2000

Daily revenueOne-day VaR (99%)

–250

–200

–150

–100

–50

0

50

Relationship between daily revenue and VaR estimate for Credit Suisse First Boston

CreditSuisse

FinancialServices


8,2365,142

62%60%

6.50%8.70%

Trading book riskat CSFB – 99% 1 day VaRPeriod endAverageMaximumMinimum

1999in USD m

113.4131.8198.889.7

2000in USD m

84.1113.5201.975.5

in USD m


MANAGEMENT

Board of Directors of Credit Suisse Group

Lukas Mühlemannborn 1950 Chairman since May 2000, Chief ExecutiveOfficer of Credit Suisse Group since January1997

Peter Brabeck-Letmathe1)

born 1944 Vice-Chairman, Chief Executive Officer andDirector of Nestlé SA, Vevey

Thomas W. Bechtler 2)

born 1949 Chairman of the Board of Directors of Zellweger Luwa Group, Uster

Marc-Henri Chaudet 2)

born 1936 Attorney-at-law

Gerald Clark 2)

born 1943 Vice-Chairman of the Board and ChiefInvestment Officer of Metropolitan Life Insurance Company, New York

Walter B. Kielholz 2)

born 1951Chief Executive Officer and Director of Swiss Re, Zurich

Thomas Schmidheiny born 1945Chairman of the Board of Directors and Managing Director of Holderbank Financière Glaris Ltd., Jona

Vreni Spoerryborn 1938 Member of the Swiss Council of States

Aziz R. D. Syriani 1)

born 1942 President of The Olayan Group, Athens

Daniel L. Vasella1)

born 1953 Chairman and Chief Executive Officer of Novartis International AG, Basle

Corporate SecretaryPierre Schreiber

Independent AuditorsKPMG Klynveld Peat Marwick Goerdeler SA, Zurich

Honorary ChairmanRainer E. Gut

Members of the Board of Directors of Credit Suisse Group until their retirement on 1 June 2001

Philippe Bruggisser, WohlenArthur W. Dunkel, Former General ManagerGATT, GenevaJohn M. Hennessy, Chairman Private EquityCredit Suisse First Boston, New YorkLionel I. Pincus, Chairman and Chief ExecutiveOfficer E. M. Warburg, Pincus & Co. LLC, New York

The Board of Directors and the Executive Boardwould like to thank the retiring Members for theirconsiderable commitment to Credit Suisse Group.

1) Member of the Compensation and AppointmentsCommittee, chaired by Peter Brabeck-Letmathe.

2) Member of the Audit Committee, chaired by Walter B. Kielholz.

About the Board and its Committees

The Board: Credit Suisse Group’sBoard of Directors meets at least sixtimes a year. Being responsible for theoverall direction, supervision and con-trol of the company, the Board reviewsthe Group’s competitive position andapproves strategy and financial plans.The Board reviews reports on the oper-ations of the Group with a particularfocus on risk management and expo-sure. It reviews significant changes inthe Group’s structure and organisation.It also assesses the performance of theGroup Executive Board and discussessuccession plans for key managers.The Board is actively involved in theGroup’s major projects including acqui-sitions, divestitures and major invest-ments. As of June 2001, with theexception of the Chairman, all Boardmembers are non-employee directors,appointed by the shareholders for aperiod of four years.

Committees of the Board (effective 1 June 2001): The Board has tworegular committees, the AuditCommittee and the Compensation andAppointments Committee, whosemembers are non-executive directorsand are appointed for one year. In addi-tion, the Board may from time to timedelegate certain tasks to a Chairman’sCommittee, consisting of the Chairmanand the two Chairmen of the regularcommittees to allow an efficient andexpedient handling of urgent matters.

The Audit Committee consists of aminimum of three members and holdsat least four regular meetings eachyear. Its duties and responsibilities in-clude the review of the annual reportand the annual financial statements,the review of relevant reports submittedto regulators, reports by internal andexternal auditors, the annual auditplans as well as the assessment of theaudit, risk management and group

compliance functions. Moreover, thecommittee is regularly informed aboutlegal, compliance and regulatory mat-ters. The Committee Chairman regular-ly reports to the full Board about thecommittee’s activities and findings.

The Compensation and Appoint-ments Committee consists of a mini-mum of three members. In at least tworegular meetings per year, the commit-tee determines the compensationpayable to the members of the Groupand Business Unit Executive Boardsand other senior managers and ap-proves compensation plans. The com-mittee also reviews and proposesGroup Executive Board appointmentsto the Board of Directors and evaluatesBoard and Committee membershipsfor final approval by the shareholdersand the full Board, respectively. TheCommittee Chairman regularly reportsto the full Board about the committee’sactivities.

52

Executive Board of Credit Suisse Group

Lukas Mühlemann born 1950Chairman and Chief Executive Officer

Oswald J. Grübelborn 1943

Chief Executive OfficerCredit Suisse Private Banking

Thomas Wellauerborn 1955

Chief Executive Officer Credit Suisse Financial Services

Rolf Dörig born 1957 Chief Executive Officer Credit Suisse Banking

Allen D. Wheatborn 1948Chief Executive OfficerCredit Suisse First Boston

Richard E. Thornburghborn 1952Vice-Chairman of the Executive Board Credit Suisse First Boston

Phillip M. Colebatchborn 1944

Chief Executive Officer Credit Suisse Asset Management

Hans-Ulrich Doerigborn 1940 Vice-Chairman of the ExecutiveBoard and Chief Risk Officer

Philip K. Ryanborn 1956Chief Financial Officer



MANAGEMENT

Senior Management of the Business Units

Credit Suisse Financial Services

Thomas Wellauer, Chief Executive Officer

Erwin W. Heri, Chief Financial Officer

Wolfgang Schmidt-Soelch 1), Corporate Development

Urs Hofmann 1), Human Resources

Hansjörg Frei 1), Country Management

Manfred Broska, Chief Executive OfficerWinterthur Insurance

Markus Dennler, Chief Executive Officer Winterthur Life & Pensions

Rolf Dörig, Chief Executive Officer Credit Suisse Banking

Olivier Steimer, Chief Executive Officer Credit Suisse Personal Finance

Hanspeter Kurzmeyer, Chief Executive OfficerCredit Suisse e-Business

Ulrich Körner, Chief Executive Officer Technology and Services

1) Member of the Extended Executive Board of Credit Suisse Financial Services.

Credit Suisse Banking

Rolf Dörig, Chief Executive Officer

Rolf Aeberli, Chief Financial Officer

Dominique Folletête, Private Clients

Martin Wetter, Corporate Clients

Bruno B. Pfister, Products

Martin Senn, Trading- and Investment Services

Franz-Josef Groth, Credit Management

Walter Fluck, Credit Recovery

Bruno Bohlhalter, Credit Recovery

Josef Meier, Neue Aargauer Bank

54

Credit Suisse Personal Finance

Olivier Steimer, Chief Executive Officer

Richard Lütolf, Chief Financial Officer

Paolo F. Lanzoni, Italy

Pablo Toja Aguirre, Spain

Michael M. Rüdiger, Germany

Antoine Bordelais, United Kingdom

Patrick Nosten 1), France

1) From 1 April 2001.

Credit Suisse e-Business

Hanspeter Kurzmeyer, Chief Executive Officer

Christoph Brunner, Chief Financial Officer

Romeo Lacher, e-Channels Switzerland

Jürgen Pulm, e-Channels Europe

Fadi Joseph Karam a.i., e-Insurance

Jan Nyholm, e-Investment Services

Holger G. Demuth, New e-Business

Fadi Joseph Karam, Design, Content &Technologies

Winterthur Insurance

Manfred Broska, Chief Executive Officer

John Dacey, Chief Financial Officer

Beat Michel, Management Services

Erwin Steiger, Switzerland

Peter Gnos, Germany

Fabrizio Rindi, Italy

César Bardají Vivancos, Iberia

Martin Long, United Kingdom

Claude Desseille, Other Europe

Herman Aaftink, North America

Willi Suter, Winterthur International

Kai Dierke, Distribution and ChannelManagement

Severin Moser, Property & Casual

Thomas Schmitt, Health & Accident

Peter Höhn, Chief Information Officer

Winterthur Life & Pensions

Markus Dennler, Chief Executive Officer

Daniel Adamec, Chief Financial Officer

Ruedi Hefti, Market Unit Switzerland

Frank-Henning Florian, Market Unit Germany

John Finan, Market Unit United Kingdom

Christen Schnor, Market Unit other Europe and Asia

Kaspar A. Ruesch, Department Operations NewBusiness

Peter Angehrn, Department ManagementExisting Business

Hans Lauber, Department Asset Management

Bruno Müller, Department IT

Technology & Services

Ulrich Körner, Chief Executive Officer

Bruno Bonati, Chief Financial Officer

Marcel Bührer, Shared Business Services

Andreas Manz, IT Systems Engineering

Karl Landert 1), Application Development

Roman Müller, IT Production

Stephan Murer, Architecture and Standards

1) From 1 April 2001.

Senior Management of Cred

Credit Suisse Private Banking

Oswald J. Grübel, Chief Executive Officer

Peter A. Derendinger, Chief Financial Officer

Thomas Amstutz, Investment Office

Moez A. Jamal, Finance & Treasury

Yves Maas, Securities and Treasury, IT & Operations

Heinz Roth, Market Group I

Alexandre Zeller, Market Group II

Olivier Steimer, Market Group III

Aldo B. Leoni, Market Group IV

Alex W. Widmer, Market Group V

Reto Donatsch, Chief Executive Officer Bank Leu

Credit Suisse Asset Management

Phillip M. Colebatch, Chief Executive Officer

Joseph D. Gallagher, Chief Financial Officerand Head of Europe (a.i.)

G. Moffett Cochran V, President of Americas

Toshio Fukuda, Head of Japan

James McCaughan, Chief Executive Officer of Americas

Andrew McKinnon, Head of Australia

Robert Parker, Head of Global Institutional Distribution

Dilip Rasgotra, Head of Investment Policy Group

Laurence R. Smith, Chief Investment Officer

Heinrich Wegmann, Head of Switzerland andGlobal Retail Co-ordination

it Suisse Group Corporate Cente

Credit Suisse First Boston

Allen D. Wheat, Chairman of the ExecutiveBoard and Chief Executive Officer

Richard E. Thornburgh, Vice-Chairman of theExecutive Board and Chief Financial Officer

Paul Calello, Head of Equity Derivatives andConvertibles

Christopher Carter, Head of Equity CapitalMarkets and European Investment Banking

Anthony F. Daddino, Chief Administrative Officer

Brady W. Dougan, Head of Equities

Bennett J. Goodman, Head of LeveragedFinance

Gates H. Hawn, Head of Financial Services

James P. Healy, Head of Emerging Markets

Stephen A.M. Hester, Head of Fixed Income Division

Hamilton E. James, Co-Head of InvestmentBanking and Private Equity

David S. Moore, Deputy Head of Equities

David C. Mulford, Chairman - International

John Nelson, Chairman - Europe

Trevor Price, Head of Developed Markets -Rates

Joe L. Roby, Chairman of the Business Unit

Stephen E. Stonefield, Chairman - Pacific

Charles G. Ward III, President of the BusinessUnit and Co-Head of Investment Banking andPrivate Equity

r

Ahmad Abu El-Ata, Technology

Kurt Arnold, Tax

Peter W. Bachmann, Accounting/Reporting

Gerhard Beindorff, Investor Relations

Kim Fox-Moertl, Capital and Funding

David P. Frick, General Counsel

Timothy S. Gardner, Human Resources

Stefan Goetz, Corporate Development

Alfred Gremli, Advisory

Tobias Guldimann, Risk Management

Urs P. Hänni, Audit

Philip Hess, Chief of Staff

Stefan P. Hilber, Accounting Systems

Jean-Pierre Huwyler, Security

Fritz Müller, Tax

Ulrich Pfister, Public Affairs

Karin Rhomberg Hug, Communications

Yuji Suzuki, Chairman Japan


MANAGEMENT

Advisory Boards of Credit Suisse Group

The Swiss and the International Advisory Boards discuss topics of significant relevance toCredit Suisse Group’s Swiss and global activities. While not involved in the governance of theGroup, they provide input and advice to Group management on strategic issues, keyoperational priorities and organisational development.

,

Ulrich Bremi, Chairman Entrepreneur, Zollikon

Urs Lauffer, Vice-Chairman Partner Lauffer & Frischknecht,Zurich

Franz Albers, Partner Albers & Co.Zurich

Truls D. Berg, Chairman of theBoard of Attisholz Holding AG,Brugg

Susy Brüschweiler, Chief ExecutiveOfficer of SV Service AG, Zurich

Martin Candrian, Entrepreneur,Zurich

Melchior Ehrler, Director SwissFarmers’ Association, Brugg, andMember of the Swiss NationalCouncil

Brigitta M. Gadient, Attorney-at-law, Chur, and Member of theSwiss National Council

Swiss Advisory Board

56

Rainer E. Gut, Chairman of theBoard of Nestlé SA, Vevey, andHonorary Chairman of CreditSuisse Group, Zurich

Felix Gutzwiller, Professor andDirector of the Institute for Socialand Preventive Medicine, Universityof Zurich, and Member of the SwissNational Council

Riccardo Gullotti, Chairman of theBoard of Zschokke Holding SA,Geneva

Urs Hammer, Chairman of theBoard and Chief Executive Officerof McDonald’s Suisse Holding SA,Crissier

André Kudelski, Chairman of theBoard of Kudelski SA, Cheseaux-sur-Lausanne

Heini Lippuner, Member of theBoard of Novartis AG, Basle

Paul Meier, Vice-Chairman of theBoard of Neue Aargauer Bank,Aarau

Lukas Mühlemann, Chairman andChief Executive Officer of CreditSuisse Group, Zurich

Erich Müller, Member of the Boardof Sulzer AG, Winterthur, andMember of the Swiss NationalCouncil

Gaudenz Staehelin, Member of theBoard of Barry Callebaut AG,Zurich

Hans-Peter Zehnder, Chairman ofthe Board of Zehnder Holding AG,Gränichen

Roland Zimmerli, Chairman of theBoard of Dätwyler Holding AG,Altdorf, and of Von Roll Holding AG,Gerlafingen

International Advisory Board

Flavio Cotti, ChairmanFormer Federal Councillor

Franco Bernabè, Chairman ofFranco Bernabè Group, Rome

Kim B. Clark, Dean of the Faculty,Harvard Business School, Boston

Mario A. Corti, Executive VicePresident of Nestlé SA, Vevey

Thierry Desmarest, Chairman andChief Executive Officer of Total,Paris

Victor K. Fung, Chairman of theBoard of Prudential Asia, HongKong, and of Li & Fung DistributionGroup, Hong Kong

Fritz Gerber, Chairman of the Boardof Directors of Roche Holding SA,Basle

Rainer E. Gut, Chairman of theBoard of Nestlé SA, Vevey, andHonorary Chairman of CreditSuisse Group, Zurich

Michael Hilti, Chairman of theBoard of Hilti Corporation, Schaan

Andreas W. Keller, Chairman of theBoard of Diethelm Keller HoldingAG, Zurich

Andreas N. Koopmann, ChiefExecutive Officer of Bobst SA,Lausanne

Jorge Paulo Lemann, Partner GP Investimentos S/C, São Paulo

Lukas Mühlemann, Chairman andChief Executive Officer of CreditSuisse Group, Zurich

Agostino Rocca, President andChief Executive Officer of Techint,Buenos Aires

Manfred Schneider, Chairman ofthe Board of Management of BayerAktiengesellschaft, Leverkusen

Ernst Tanner, Chairman and ChiefExecutive Officer of Lindt &Sprüngli, Kilchberg

MAIN OFFICES

Credit Suisse GroupParadeplatz 8P.O. Box 18070 ZurichSwitzerland

Tel +41 1 212 1616Fax +41 1 333 2587

Credit SuisseParadeplatz 8P.O. Box 1008070 ZurichSwitzerland

Tel +41 1 333 1111Fax +41 1 332 5555

235 locations in Switzerland.

WinterthurGeneral-Guisan-Strasse 40P.O. Box 3578401 WinterthurSwitzerland

Tel +41 52 261 1111Fax +41 52 213 6620

611 locations in Switzerland.Represented in more than 30 countries worldwide.

Credit Suisse Private BankingParadeplatz 8P.O. Box 5008070 ZurichSwitzerland

Tel +41 1 333 4444Fax +41 1 333 6330

51 locations in Switzerland.Over 40 locations outside Switzerland.

Credit Suisse Asset ManagementGiesshübelstrasse 30P.O. Box 8008070 ZurichSwitzerland

Tel +41 1 335 1111Fax +41 1 333 2225

Credit Suisse Asset ManagementBeaufort House15 St. Botolph StreetLondon EC3A 7JJEngland

Tel +44 20 7426 2626Fax +44 20 7426 2828

7 locations in Switzerland.14 locations outside Switzerland.

Credit Suisse First BostonUetlibergstrasse 231P.O. Box 9008070 ZurichSwitzerland

Tel +41 1 333 5555Fax +41 1 333 5599

Credit Suisse First BostonEleven Madison AvenueNew York, NY 10010-3629USA

Tel +1 212 325 2000

Credit Suisse First BostonOne Cabot SquareLondon E14 4QJEngland

Tel +44 20 7888 8888Fax +44 20 7888 1600

3 locations in Switzerland.73 locations outside Switzerland.



INFORMATION FOR INVESTORS

Credit Suisse Group shares Ticker symbolsStock exchange listings Bloomberg Reuters Telekurs

SWX (Swiss Exchange) CSGN SW CSGZn.S CSGN,001Frankfurt CSHN GR CSGZn.F 876800,13Tokyo 8653JP CSGZn.T N1492,106

Also traded in

New York (ADR) 1) CSGKY US CSGKY.OB CSGKY,130London (SEAQ) CSG LI CSHZnq.LT C2,182Paris (OTC) CSHR FP CSHZ.PA 916190,25

1) 4 ADR = 1 registered share

Swiss security number 146248ISIN number CH0001462487CUSIP number 225 401 108

RatingsAgencies Credit Suisse Group Credit Suisse First Boston Winterthur

Long term Short term Long term Short term Long term Short term

Moody’s, New York Aa3 - Aa3 P1 A1 P1 Aa3Standard & Poor’s, New York AA- A1+ AA A1+ AA A1+ AAFitch IBCA, New York AA- F1+ AA- F1+ AA F1+ AA-

Credit Suisse

CREDIT SUISSE GROUPMedia RelationsKarin Rhomberg Hug, Andreas HildenbrandTel. + 41 1 333 8844 Fax + 41 1 333 8877

Mailing address: P.O. Box 1, 8070 Zurich, Switzerland

As of 11 May 2001 Credit Suisse Group’s

Annual Report 2000/2001

may be ordered from:

CREDIT SUISSECIDM 23P.O. Box 1008070 ZurichSwitzerlandFax + 41 1 332 7294

Enquiries

CREDIT SUISSE GROUPInvestor RelationsGerhard Beindorff, Andreas PeterlikTel. + 41 1 333 4570, + 41 1 333 3169Fax + 41 1 333 2587

58





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