Clariden Leu was a Swiss
private bank
Private banks are banks owned by either the individual or a general Partner (business rank), partner(s) with limited partner(s). Private banks are not incorporation (business), incorporated. In any such case, creditors can look to both the "enti ...
based in
Zurich and
Geneva
Geneva ( ; french: Genève ) frp, Genèva ; german: link=no, Genf ; it, Ginevra ; rm, Genevra is the List of cities in Switzerland, second-most populous city in Switzerland (after Zürich) and the most populous city of Romandy, the French-speaki ...
Switzerland
). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...
founded in 2007 by Clariden president Alex Hoffmann and
Credit Suisse Group
Credit Suisse Group AG is a global investment bank and financial services firm founded and based in Switzerland. Headquartered in Zürich, it maintains offices in all major financial centers around the world and is one of the nine global " ...
.
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 abnormal cell growth with the potential to invade or spread to other parts of the body. These contrast with benign tumors, which do not spread. Possible signs and symptoms include a lump, abnormal b ...
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 most of the time the investor purchases some specie ...
,
political science
Political science is the scientific study of politics. It is a social science dealing with systems of governance and power, and the analysis of political activities, political thought, political behavior, and associated constitutions and la ...
advisor,
philanthropist
Philanthropy is a form of altruism that consists of "private initiatives, for the Public good (economics), public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private goo ...
,
investment manager
Investment management is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institut ...
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 is a global investment bank and financial services firm founded and based in Switzerland. Headquartered in Zürich, it maintains offices in all major financial centers around the world and is one of the nine global " ...
private banks:
Bank Leu
Bank Leu AG (pronounced "Loy," as in toy) was a Swiss private bank that existed from 1755 to 2007. Headquartered in Zurich, it was a subsidiary of Credit Suisse from 1990. In 2007, it was merged with that company's other private banking units ...
, 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 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 legally 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. Until that time, any reference to Clariden Leu will be considered legally to be a reference to Credit Suisse. The merger will also make Bank Leu AG and Clariden Leu Holding AG part of Credit Suisse Group AG.
References
External link
PRIVATE BANKING
{{Authority control
Banks established in 1775
Banks of Switzerland
Private banks
Credit Suisse
Companies based in Zürich