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CareersPage 02 Jobs Around the Globe | Page 04 Interview with Harald P. Stoehr | Page 06 Business School Continuous

Training at University Level | 0 Global Opportunities New York and Back | Page 13 Campus Recruiting The Best

Students for the Best Bank | Page 15 Switzerland as Talent Factory | Page 19 Addresses at a Glance

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The First Career Step Means Gathering ExperienceJennifer Schwyter studied Neuroscience and Management Science at the Swiss Federal Institute of Technology in Zurich, completed a three-month internship in the Business Technology unit of Credit Suisse in April 2005 and now works as a junior consultant in the Project Services Corporate Devel-opment area.

When we called her at the end of January 2007, a distant but friendly voice answered the phone:

“Jennifer speaking, hello.” At this time, she was work-ing as a development assignee in New York. “A really exciting six months,” was how she described her stay shortly before her return to Zurich. “I worked as an analyst in the Business Development area of Investment Banking, with close contact to Hong Kong and London.”

She was previously employed for six months on a project in London, where she assisted the regional Corporate Development unit in developing strategies for EMEA (Europe, Middle East and Africa). “When you start out on your career, it’s not normal to spend significantly more time abroad than at home, but nothing is impossible if you hit on the right situation, you make your needs known at an early stage and you have helpful line managers.”

For her, career means valuable experience abroad: “I’ve learned to work in a different environment in a new city with a different culture. And I’ve also met lots of interesting people and built up a large network of contacts.” schi

Ian Dalgish, Managing Director Emerging Europe EquitiesLondonMoscowSingaporeLondon

02 | Credit Suisse Bulletin plus | Careers

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Tracey Morland, Director for Financial Systems SupportSingaporeHong KongSingaporeSydneySingapore

Rene Dittrich, Director COO Financial Accounting AmericasNew YorkZurichNew York

Jonathan Siong Tec Ong, Vice President Performance ManagementSingaporeLondonNew York

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What do you understand by the term “career”? In the first place, a career is a kind of inventory, a listing of professional achievements and stations along a path of professional development. Implicit to any general statement we make about a career is always a value judgment. Someone is said to have pursued a career when they have achieved something. The term career therefore implies the expectation of continuing upward development.

What course has your own career taken? It started off in a very traditional way with a bank apprenticeship. That was followed by university studies and a return to the same bank at which I had done my apprenticeship. There I was initially employed as an instructor in an area that I suppose would be called “Learning and Development” today. However, after a few years I concentrated on the classical HR business – exclusively with an international orientation for the last 18 years.

What were the key factors which determined the course of your career? It’s not possible to analyze what helped you advance in your career until you look back upon it. That’s what makes it all so interesting. Obviously, you can concentrate on certain things that have a positive impact on your personal worth in the broadest sense. However, careers are always subject to chance too or – to put it more precisely – strokes of luck. One of

the key factors for me was certainly being approached about a vacancy as regional head of HR at an investment bank in New York. Acceptance of this post gave my professional development, which had until that time unfolded exclusively in Frankfurt, a whole new dimension. The time I spent in New York formed the basis for my later activity with global responsibility in London, and other opportunities arose as a result. Another factor – a very trivial one, but not unimportant for all that – was that during my apprenticeship and later during my

studies too I concentrated on developing my English skills, which I had rather neglected during my school days. Since that time I have spent the majority of my career in Englishspeaking countries.

So are you saying that a career is only plannable to a limited extent? This is a subject I often discuss with people who are starting out on their careers. They want clarity concerning their objectives and career opportunities. We can point out

specific forms of professional development and offer perspectives. However, these can only ever be of an indicative nature without any precise time frame. As I mentioned earlier, the combination of a variety of factors is required in order to find the right niche to match each employee’s very specific aptitudes and skills potential. Such things can never be forced. There are always times at which ambitious employees feel they are standing still or developing in a sideways direction. And yet, all of a sudden new opportunities can arise.

The job market has radically changed during your career. What are the classical “must haves” for a job in the financial sector in 2007? Mobility, international experience and specialization have certainly continuously gained in importance over the last decades. The dynamics of the financial system and ongoing globalization demand an openness to change on the part of the workforce – be it change of location or change of

Eventually, Everyone’s Responsible for Their Own Career

As head of Human Resources, Harald P. Stoehr is in charge of the entire HR area of Credit Suisse. He is convinced that a career cannot be forced upon anyone. What he sees as a basic requirement in all cases, however, is that the specific aptitudes and potential of each employee are put to use in a suitable manner.

“ Careers are always subject to chance too or – to put it more precisely – strokes of luck.” Harald P. Stoehr, head of Human Resources

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company in certain circumstances. Many of our clients operate across national borders and expect international competence from their financial advisors. Such competence can only be acquired through practical experience in a variety of financial centers. The diversity of client needs and complexity of financial services also make early specialization, together with a marked ability to work together in changing, interdisciplinary teams, indispensable for employees entering the banking sector.

Today we talk of a “war for talent.” Isn’t there a connection between this war for talent and the increased willingness of employees to change jobs? Yes, of course. This war for talent isn’t a new concept. As a company, we have the challenge of continuously attracting and retaining the required amount of talent. Recruitment begins with junior staff and extends to highly qualified specialists. It is a constant challenge and we must continuously think up new ways to set ourselves apart from the competition. We take this issue of talent very seriously and it is given evergreater attention in our daily human resources practices. Credit Suisse has an excellent reputation and for many years has been among the leading employers in Switzerland. However, we can never afford to rest on our laurels. We need to position ourselves globally as an “employer of choice.” We are interested in talent on a worldwide basis and have a corresponding need across all the regions in which our business operates.

What does Credit Suisse offer that other employers don’t? We now find ourselves in an exceptionally interesting situation. As Credit Suisse we have a strong position in the financial market. But what sets us clearly apart from many of our competitors is the fact that we have a very specific, realistic potential for growth and change. With the transition to our integrated organizational structure, we have only just started out on this process. Our

dynamism and marked willingness to change make us a very interesting plat form for people who are themselves participating in this process of change, taking initiatives and looking to bring in new ideas.

How many vacant positions does Credit Suisse currently have? This is something that fluctuates strongly. At the moment, we have about 3,500 vacancies worldwide. On the one hand these include existing positions that need to be filled, and on the other, new positions that are being created as part of our growth strategy and changing business models.

We always talk about talent – meaning younger people with little experience. And yet during the ’90s, in particular, a large number of older, ex-perienced workers took early retire-ment. Are we now at a turning point? Will greater store again be set by experience in the future? Yes, for sure. That is a result of both the scarcity of talent and the value of institutional experience. We must pursue the objective of continuously recruiting junior staff to the company while at the same time giving our existing, experienced staff the opportunity to remain productive within our organization for an extended period of time. This will surely require creativity on our part in searching for new solutions in the years ahead.

My son is 14 years old and has his entire career ahead of him. What ca-reer would you recommend him? That is a very difficult question. My philosophy is that you should put young people in a position to make their own decisions. At the end of the day, everyone’s responsible for their own career. In the complex world of today, there are so many different ways of achieving selffulfillment in accordance with one’s aptitudes and interests. Banking is certainly one of those, but is by no means the only way to be happy. But for people with the right attitude and gifts it is a highly fascinating area. dhu

Harald P. Stoehr (56) worked in the HR area of Deutsche Bank for 29 years. Having begun his career in Frankfurt, he spent several years working in New York and London. His final position at Deutsche Bank was as managing director Chief of Staff – Global HR. In 2005, Stoehr moved to Zurich Financial Services Group, where he was responsible for the management and implementation of global strategy as head of HR. In con-junction with the One Bank concept, he took on the overall responsibility for HR at Credit Suisse at the beginning of 2006.

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The financial markets and the regulatory environment for globally operating banks have changed fundamentally in recent years. The rapid development of informa-tion technology, globalization and demo-graphic change are the driving forces behind this transformation. Today’s com-petitive environment requires innovative financial products, customized solutions and professional, comprehensive client advice. Credit Suisse relies on thorough training and development to increase the competencies and shared culture of its

staff at all levels. Only thanks to the con-tinuous promotion of specific skills can each individual meet the requirements of his or her existing and future tasks.

Our Own Corporate University

This fundamental premise is the basis of the training campaign launched by the Credit Suisse Executive Board in 2003

with the aim of transforming the company into a learning organization. Unlike public universities, the corporate university or Business School established in 2004 fo-

cuses on operationally relevant topics as well as on skills and qualifications that are specifically required within the company. A single management team operates the various educational departments and their corresponding support functions centrally, thus ensuring that all training programs are of the same standard. At the beginning of 2007, the assessment and human capital management processes were also inte-grated in the Business School.

The Business School is characterized by high-quality standards: Business School

A Corporate University of Repute

Credit Suisse has to invest continuously in the knowledge and skills of its staff to cope with the increasing demands of financial markets. Mina Dello Buono presents the Credit Suisse Business School.

The bankwide “Welcome to Credit Suisse” induction program is an element of employee onboarding. The objectives and messages of the company are presented even by members of top management such as Chief Executive Officer Oswald J. Grübel. A team tire-changing exercise helps to quickly integrate new employees.

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staff are specialists in their subject, have front-office experience, have worked as consultants or held management positions at institutions of higher education. In turn, their extensive expertise is incorporated in the Business School’s training programs and campaigns. Training courses and pro-cedures undergo regular quality checks and international comparisons. Only one year after it was established, the Business School won the CLIP (Corporate Learning Improvement Process) Award from the European Foundation for Management Development (EFMD) for the quality of its training and development programs. The Business School has also been accredited – as the first company in Singapore – by the state Institute of Banking and Fi-nance in 2005.

Today the Business School employs approximately 230 staff worldwide and runs training centers in Zurich, Geneva, Lugano, London, New York, Singapore and Hong Kong.

Strategic Support for the Company:

Five Principles

The training programs are aligned with Credit Suisse’s corporate strategy and harmonized with the objectives of the individual divisions. Because it is relevant to day-to-day business, the Business School makes a significant contribution to implementing Credit Suisse’s strategy, and ultimately to the bank’s success. The Busi-ness School pursues five basic principles: A comprehensive management and specialist training and development program provides practical support for employees in the continuous learning process. They thus possess the specialist knowledge currently required at all times, and have efficient and effective manage-ment expertise at their fingertips. Common appreciation of corporate strategy and values is strengthened. Thanks to the Business School, skills are not restricted to individuals, but are

constantly shared. Intensively and consis-tently involving specialists and manage-ment representatives transmits a clear message on learning culture within Credit Suisse, and as such is a matter of great importance to the bank’s management. The Human Capital Portfolio provides the basis for the systematic and targeted evaluation, development and retention of human potential with a view to the corporate strategy and ensures a continu-ous process of talent management across the company. The training program always incorpo-rates the latest findings, technologies and methods derived from practical experience and the business world, thus enabling optimum, practically relevant learning. The Business School subjects training programs and methods to regular quality checks and international comparisons. It intends to perform a benchmark function on a national and international level, and to make the company more attractive as an employer.

Tried and Tested Mainstays

The Business School is structured as six institutions in order to meet the require-ments of the market and of the bank. The Leadership Institute offers strategy- and level-oriented support to management employees in the form of leadership and management training programs. At the beginning of 2007, all the processes involved in the management and assess-ment of human capital were added to the Business School’s remit. This allows the integrated, systematic planning and implementation of all development pro-cesses, which are consistently combined with the diverse range of practice-oriened learning activities available. However, management employees are also support-ed by customized organizational develop-ment programs. The cross-divisional pro-grams strengthen corporate culture, pro-mote mutual understanding and the

Credit Suisse Business School: Key Figures

January 1, 2004 Foundation of the Business School

March 2005 Campus Asia launched in Singapore/Hong Kong

May 2005 First bank to be pre-sented the CLIP (Corporate Learning Improvement Process) Award by the European Foundation for Management Development

October 2005 First company in Singapore to be accredited by the Institute of Banking and Finance

December 2005 Partnership with the Singapore Management University (SMU). Inauguration of an auditorium on the new City Campus

January 2006 Assumes global responsibility for training and development throughout the integrated bank

June 2006 Training Value Chain: standardized, structured pro-cess for the development of high- quality learning programs

October 2006 Once again awarded eduQua certification for its Private Banking Operations department

January 2007 Management change at the Business School. Siegfried Hoenle, hitherto head of the Leadership Institutes, takes over from founder Urs Hofmann

February 2007 Credit Suisse Business School wins the Cux Award, the United States’ leading prize for corporate universities



exchange of ideas across hierarchical divi-sions. At the same time, they provide an ideal networking platform. To meet the needs of the integrated bank, an intercul-tural center of competence was estab-lished. Specific programs provide support, as well as promoting cross-cultural under-standing and intercultural competence. The aim is that both management and staff should know how to benefit from cul-tural differences in their day-to-day pro-fessional lives.

The Business Institutes are respon-sible for specialist and front-office training. They record line managers’ requirements for specific, advanced training for their staff in consulting and sales, finance and risk, controlling and accounting, legal and compliance, private banking, private cli-ents, corporate banking, operations, IT, in-vestment banking and asset management. Based on this information, the Institutes derive effective training measures. The goal of the training portfolio is to ensure that specialist expertise remains at the cutting edge, and that the diverse con-cerns and requirements of clients are involved at a practical level.

Besides learning at its own Business School, Credit Suisse also supports its employees in their external training and development programs. The aim of providing professional advice on training courses and suppliers as well as checking the quality of external courses is to main-tain the marketability of all employees. The focus here is on acquiring recognized certificates of higher professional education, and on basic and postgraduate university education.

Support for Various Career Paths

The importance attached to training and development at Credit Suisse is also apparent when it comes to recruiting the best young talent in order to achieve tomorrow’s success. The bank offers ap-prentices, high-school leavers and univer-sity graduates attractive training and be-ginners programs.

In principle, the Career Start oppor-tunities for graduates of universities and universities of applied sciences are open to students of all disciplines. However, depending on the area within the bank in which a trainee wishes to gain experience,

not all disciplines have the same relevance. The development concept focuses on on-the-job training. In parallel, special function-specific and interdisciplinary off-the-job modules promote technical, per-sonal and social skills with a view to the trainee’s target function.

Continuous Investment

While studying used to be relevant until completion of a person’s initial training, in modern society it has become a lifelong companion. Social, communication and intercultural skills have clearly gained in significance. University degrees and edu-cational certificates are important, but not a sufficient guarantee of success in practice.

The Business School encourages the process of lifelong learning, and practical relevance characterizes its own learning culture. At Credit Suisse, competent, mo-tivated and well-informed employees are in demand – people who are in a position to exploit change as an opportunity. These factors are of decisive importance when it comes to distinguishing oneself from com-petitors. I

Development as Career PromotionIn 2006, 30,960 Credit Suisse staff underwent further education programs at the bank’s corporate university. On 108,049 course days, 133,554 stu-dents took part in approximately 8,750 courses. Around two-thirds of all staff thus benefited from the Business School program, with each person attending an average of more than four courses – of varying lengths.

Instructor-Led Training Courses per RegionCredit Suisse staff followed regular and intensive training courses in all regions. Source: Credit Suisse

Participants Participant Days Trained Employees

60,000

50,000

40,000

30,000

20,000

10,000

0

Switzerland Europe, Middle East and Africa

North and South America

Asia- Pacific



several thousand high-level specialists, and to a 150-year tradition. Nevertheless, it is self-evident that we take regional and local differences into account.

How do you collaborate with the state universities? The Business School does not intend, and is not able, to compete with state universities. We are a corporate university that focuses on our strategically relevant topics and on the skills and qualifications required within the company. However, we do cultivate relations with specialists from universities and universities of applied sciences, whom we involve as lecturers in our training and development programs. Apart from that, in several cases we have developed and implemented training courses together with state or private educational institu-tions. Some of these programs, such as the Bachelor of Banking in partnership with Zurich University of Applied Sciences Winterthur (ZHW), enable participants to gain recognized qualifications. schi

How important is the Business School for an employee’s career? The Busi-ness School plays an important role in two ways. On the one hand, the Busi- ness School defines the human capital processes with which Credit Suisse identifies and develops its high performers with potential. This gives line managers the right tools and specialist support in the central process of employ-ee development. On the other hand, the Business School provides learning pro-grams customized to suit the trainee’s needs and level of development. In other words, the Business School offers active support for climbing the corporate ladder. But the most important thing still remains the resourcefulness and staying power of each individual.

Does the Business School offer a career planning service? Today, long-term career planning has become difficult. Due to rapid developments and globaliza-tion, structures and requirements change faster than they used to. Instead of relying on long-term career planning, we point out possible career developments within differ-ent professions, focusing not only on classic management careers, but also on specialist and advisory career paths. The various requirement profiles and seniority levels within these three possible careers then offer employees a framework on which they can base the new development stages open to them, whether horizontally or vertically. This allows management to identify and promote talented newcomers

Our Bank Is a Learning OrganizationCredit Suisse runs its own corporate university. How can employees benefit from it? We asked Siegfried Hoenle, head of the Business School, to explain.

Headed by Siegfried Hoenle, the Busi-ness School shows employees potential career paths.

for the next level up in annual talent reviews. Career advice per se is therefore the job of management staff. As an extra service for orientation in the confusing external further training market, the Business School offers individual educational advice.

Is further education also worth-while for a 50-year-old employee who is not a member of management? Of course. Credit Suisse makes no distinc-tions on the basis of age. We want competent and well-trained employees who are able to assert themselves in the rapidly changing, intercultural environ-ment of our bank. And of course employ-ees who are over 50, with their valuable experience, are more than capable of satisfying this job requirement – as long as they stay on the ball. But that also applies to 30-year-olds. Our bank sees itself as a learning organization, and encourages every single employee to learn continuously.

Is training in Switzerland differ-ent from training in New York? As a globally oriented, integrated financial services provider, we always act with the typical Credit Suisse mixture of client orientation and innovativeness, regardless of the geographical context. For this reason, a large number of our training courses are globally consistent – it’s about shaping up our employees for the Credit Suisse way – or keeping them fit. This is one of the reasons why we are also attrac-tive as an employer: Our staff gain access to the collective knowledge and skills of



“International experience is one of the most important ways for staff to broaden their personal and professional horizons. What’s more, in a global company international placements are an essential career step along the path to senior management,” explains Ottavia Salis Gross Hanna of International Assignment Management at Credit Suisse in Zurich. Married to a dual, US/Egyptian national, Hanna is Swiss but in the course of her own career has worked in the UK, Luxembourg and in the US, spending a total of eight years in New York between 1987 and 2001. She knows what she is talking about when she says: “An international assignment makes you see things differently, makes you more tolerant and expands your contact network. Only

when you have experienced other cultures at close hand can you develop a holistic and global way of thinking. This skill is fundamental to managing a successful multicultural enterprise.”

Support With Day-to-Day Issues

Alongside all of these positive factors, however, a career in a global bank such as Credit Suisse demands a great deal of flexibility and mobility from the member of staff themselves and from their family.

Should you really push ahead with your own career and thereby impose a completely unfamiliar environment on your partner or family? It is considerations like these which put people off taking an international career step at first. This is where International Assignment Management comes in. The team provides assistance on a very practical level to make a career transfer abroad easier. It can give support on tax or insurance matters, or even on looking for the right home or school. Not least, it is there to help with the thorny issue of financial compensation to cover differences between living costs. After all, the cost of living in Tokyo is much more expensive than, say, in Uster, located in the Canton of Zurich.

Cultural Differences Are Stimulating

“One of our main tasks is to make people aware of cultural differences between countries,” Ottavia Salis Gross Hanna emphasizes. “It is something that should in no way be underestimated and it is taken seriously at Credit Suisse.”

For example, in February 2007 Diversity Management held a lunchtime seminar in Zurich entitled “Paradeplatz Meets Man

hattan.” The event was so successful that it will have to be repeated in April, and very probably more often in the future.

Willingness to Take Risks

By way of illustration, Salis Gross Hanna mentions a few basic constants that she has found in her own experience with regard to the US, despite all of the changes that the American way of business has undergone: “The importance of putting yourself and your opinion forward on a regular basis is equally important in both the business and social context. The Americans don’t take things personally if you don’t agree with them. In fact, they respect and value your ability to defend your position properly. One of the key differences compared with Switzerland is that decisions are made quickly, even if the finer points still have to be worked out. Sometimes this can mean switching horses in the middle of a race, so to speak. Flexibility and a willingness to take risks are not only required, but must also be demonstrated constantly – it becomes a way of life. The speed with which things happen and the competitive pressure that this creates also promote an extraordinary willingness to work long and hard – at the expense of the “worklife balance” which is valued so highly elsewhere, particularly in Europe. Being aware of such differences, as well as commonalities, is the key to professional and personal success during an international assignment.

758 Assignees – Numbers on the Rise

For that reason, Ottavia Salis Gross Hanna and her team work closely with their three colleagues Simon Baker, John Dall and

Paradeplatz Meets ManhattanThere is a marked uptrend in the number of professionals wishing to spend part of their career abroad. At Credit Suisse, International Assignment Management is on hand to help overcome the challenges that this presents.

Ottavia Salis Gross Hanna helps assi-gnees to overcome the hurdles presen-ted by their job-related move abroad.

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Ali Reza, who all lead teams performing the same function in Singapore, New York and London.

But what sort of form and scale does this jobrelated international exchange take? Most frequent are business trips lasting a maximum of two months. However, these are not handled by International Assignment Management and therefore no precise statistics are kept. “We are only brought in when the assignment is somewhat longer – the basic rule being when a work permit application has to be made,” Salis Gross Hanna explains. “We distinguish between various types of assignment depending on the reason for the placement. The total number of assignments varies, of course, but there is a clear upward trend. At the beginning of 2007 we had 758 assignees.” Where countries of origin, or “home bases,” are concerned,

it will come as no surprise that Switzerland, the UK and the US lead by a wide margin. However, there are also some 50 Australians working as expatriates for Credit Suisse. Since the demand for specialists is currently very high in the fastgrowing Asian countries and cities of Singapore, India, Hong Kong and Japan, relatively few bankers from these nations are being sent to other regions at present. The flow of assignees may change in the future, however.

Development Assignments Increasing

A large proportion of assignments are prompted by an urgent need for someone with specialist knowledge of a particular region. However, there are signs that more and more assignments in the future will be for the purposes of professional and personal growth. These are referred to as “de

velopment assignments.” “Right now we only have about 60 development assignees, because in the past this form of training was relatively unusual in investment banking and asset management circles,” says Salis Gross Hanna. She gives the example of 27yearold Jennifer Schwyter (see profile on page 02), who completed an internship at Credit Suisse while she was still studying at the ETH (Federal Institute of Technology) in Zurich and was immediately sent to London. After graduation, Jennifer then spent six months as a “development assignee” in New York as part of her initial professional training.

It is well worth getting in touch with Credit Suisse early on and to very carefully consider what you want to accomplish at the bank. Credit Suisse makes every effort to accommodate this sort of career planning. schi

A capacity audience is all ears. Enid Kopper (foreground) tailors her talk to her listeners and explains the cultural differences between Switzerland and the US



Credit Suisse mirrors the reality of many of our clients – our business is 24/7 and we draw talent from many diverse backgrounds. We are known for providing innovative solutions and we can quickly implement those solutions around the world, learning from our partners along the way and adding unique elements that are relevant to the given geography. There’s an old saying: “We need to be global and local at the same time.” Credit Suisse provides the environment to experience that challenge.

Employees at Credit Suisse can experience the global organization in a variety of ways, the most directly from the fact of having colleagues drawn from different parts of the world in one’s team. In

many cases, there is a need to travel to other locations to meet with colleagues or clients and there are also opportunities to experience firsthand a number of our locations on short and longterm assignments. The fact that we are moving more people into new assignments outside of their home countries means that they are building broader networks, which is a necessity as the business world becomes increasingly global. Today, there is no such thing as a purely domestic job – even if an employee spends the whole of their career in their home country, their resources and relationships are often drawn from our global pool. It has become routine for a weekly conference call to include colleagues from all parts of the world, and people are building relationships even with the limitations of a video conference or phone call.

Diversity Provides Insight

Our very diverse employee population mirrors the diversity of our client base. This gives us an important source of insights about our clients that banks with a purely domestic orientation don’t have – we know their environment, their preferences and their cultures. We can literally and figuratively “speak their language.” Therefore, we are able to add value and build relationships in ways that make us unique; at the same time we bring features of our various home country cultures that are highly valued. For example, the Swiss private banker is the paradigm for discretion and financial savvy. But many of our “Swiss private bankers” are Asian or Spanish or English in addition to being

Swiss – they have the competencies and culture that reflect our Swiss business heritage. The rich mix of nationalities we have in the bank help us to stay flexible and innovative and to see that there are many ways to solve a problem. We cannot look to any one geography as the source of our best practices – they come from everywhere we have our people.

Since we announced our intention to operate as an integrated global bank, we have been busy building the informal networks as well as the formal programs that will help us to collaborate with each other globally. We are creating common ways to get things done, including ways of evaluating and developing our talent. The bank is promoting this kind of collaboration in a variety of ways, including the fact that we are now doing most of our leadership training in mixed teams drawn from all of our businesses within a region. We know that what happens after class – informal networking – is as important as what happens in the classroom in terms of building relationships. The Business School is also about to launch a tool that can help us to understand our colleagues and to improve our effectiveness when we do business with people in other countries – GlobeSmart. This Webbased tool complements classroom training that helps people to be effective when working with different cultures.

All of these things are crucial if we truly want to be the “world’s premier bank.” And the fact that we are more diverse and more global than many of our competitors will help us to achieve our goal faster. I

Multicultural Team Builds BridgesCredit Suisse is a global bank. This means that our employees not only work in a dynamic environment, they also have many opportunities for developing a compelling career path.

Alicia Whitaker: “In order to be success-ful on a world scale, we intensely promote intercultural cooperation.”



the web in a smart, but differentiated way. It’s not just about the candidate’s overall experience when applying through our website. It’s more about how Credit Suisse employs new and emerging technologies to communicate with this audience.

We need to be innovative and need to take risks. When we look at the genera-tion that we are trying to communicate with, they are the most technologically literate ever. They expect to see innovation, be it web streaming or pod casting. A web streaming could be a senior Credit Suisse person communicating with students live on the web, or it can be downloads of cam-pus presentations. We could use video as well as pod casts more often. Another pos-sibility would be live link-ups between Credit Suisse offices and universities to de-liver campus presentations, aimed at specif-ic audiences. There is a huge opportunity through these technologies. nb | schi

What are the objectives as head of Cam-

pus Recruiting at Credit Suisse? Credit Suisse’s main focus is the campus recruit-ing landscape. Not just because the war for talents is increasing, but because the bank’s competitive advantage is based on its ability to attract the very best people globally. We recruit in all regions. No region is more important than another.

Aren’t there differences between

the various regions? The very best stu-dents may have studied in a number of dif-ferent institutions in different regions. They are flexible and mobile when they start their careers. But the pressure in the devel-oped and mature markets such as Europe and the US means we won’t have enough people graduating from university. Due to demographic changes we will have to look much more broadly for our talents and scrutinize new markets. We need to de-velop a unified approach to campus re-cruiting through the delivery of a global program to attract the best people. But this isn’t only a marketing campaign. It’s about making sure that we offer some-thing consistent, whether you are hired by the bank in Tokyo or New York. This global campaign will of course be underpinned by some local and regional flexibility.

What effects does the One Bank

strategy have on training? Are general-

ists, for example, more in demand? The One Bank strategy is a great platform to attract the very best students. We want to hire people who will become well-rounded banking professionals. But we will always

Credit Suisse Targets to Become the Employer of ChoiceCredit Suisse’s competitive advantage is based on the ability to attract the very best people across the planet. We asked Helen Bostock, head of Campus Recruiting, how Credit Suisse focuses on becoming an employer of choice throughout the globe.

Helen Bostock is head of Campus Recruiting, a position that is very important for the future of Credit Suisse. She has built a career in campus recruiting but tries to balance this with her other priorities. She’s married to a photographer and has a 10 year old daughter. She loves her garden and her other interests include the Anglo-Zulu War.

need specialists, who are focused on de-veloping products for certain types of busi-nesses. We will always need a combina-tion. We have to get the mix right, and hire the bank’s future leaders.

In Switzerland, the graduates know

Credit Suisse quite well. How is the situ-

ation in New York or Singapore? In fact, we aren’t top-ranked in most employer of choice surveys. Our first priority is there-fore to look at our employer brand. Our challenge is to increase our brand aware-ness – how we communicate it to this audience and what we say to them. What is different about Credit Suisse? What types of careers do we offer? The experi-ence or the evidence that we have shows that once a candidate gets to meet our people on campus, the feedback about Credit Suisse is extremely positive – as a firm and about the career opportunities.

In what ways can the relationship

between universities and Credit Suisse

be improved? Notably by improving part-nerships with universities that we target. The most important aspect is to use our people – the people that we have hired and the alumni from those universities. One opportunity is to deliver some of the curriculum, by providing support on sub-jects our people have knowledge in. We also should be looking at what sponsor-ships we do and how they support the Credit Suisse brand.

What role can online recruiting

play? An online presence is critical to our success and a key priority. We need to use

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Input For further information regarding our programs, please visit our website: www.credit-suisse.com/standout.

The Global Campus Recruiting team fo-cuses on attracting and hiring the best undergraduate and graduate students from our core and noncore schools for our full-time and summer programs. We work to identify and hire the strongest most diverse classes for our businesses.

We currently hire students for the following businesses: Alternative Invest-ments, Asset Management, Equity, Equity Research, Fixed Income, Global Market Solutions, Holt, Information Technology, Investment Banking, Private Banking and Shared Services. In addition, we hire au-tumn and winter interns for Investment Banking within in Europe.

The Global Campus Recruiting team, led by Helen Bostock, Managing Director, includes over 60 recruiting specialists. Our teams are based in New York, London, Hong Kong and Zurich.

Our full-cycle recruiting programs in-clude the planning and execution of all campus recruiting events. This may in-clude firm-wide presentations, division-specific and educational events. Other in-formal activities, such as resume review workshops and employer-in-residence sessions are also sponsored frequently by Credit Suisse.

The goal of the summer programs are to attract top talent at the undergraduate and graduate level and, ultimately, for the participants to join the full-time training programs. Our summer programs serve as direct feeders for our full-time classes.

The summer experience is a valuable opportunity for students to gain hands on training. The programs foster educational and professional development, mentoring

Aiming for the Best StudentsCredit Suisse’s campus recruiters, present at events in New York, Hong Kong, London and Zurich, aim to attract and employ the best students from key universities. By Julie Kalish, at Credit Suisse’s Human Resources, Investment Banking in New York.

and career counseling. Students in the pro-grams get continuous feedback and sup-port from both campus recruiting and line managers.

These are just some of the ways we continually work to increase our brand rec-ognition and presence on our key campus-es. In addition, we partner closely with our respective business lines to select and hire

top candidates. In 2006, we received over 60,000 applications globally for our full-time and summer positions and conducted approximately 13,600 interviews.

While each region focuses on a se-lected group of target schools, the appli-cation process is also open to all students from schools outside of our targeted re-cruiting efforts. I

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www.credit-suisse.com/standout


efforts have paid off: Credit Suisse is a sought-after employer among graduates. Of course, that depends to some extent on how well business is doing – everyone wants to work for a successful company. But we can never rest on our laurels, other-wise we will be overtaken immediately. In a recent study among the student popu-lation we emerged as the second most at-tractive employer in Switzerland. So there is still room for improvement …

What about banking apprentices?

Is Credit Suisse also still interested in

them? We will not be departing from our tried-and-tested apprentice policy. The bank’s success depends on it having the right mix of staff. Look at Credit Suisse’s top managers and you’ll find that they are not all academics by any means. I myself started my career with a banking appren-ticeship. And Credit Suisse in particular of-fers a wide variety of postapprenticeship opportunities for further internal and ex-ternal training. If you are open to exploring new areas, practical professional experi-ence can be just as valuable as academic study. One of our tasks is to identify and encourage that kind of talent. schi

Mr Machate, what prompted you to

continue your career with Credit

Suisse? I was impressed by the way in which Credit Suisse quickly managed to overcome the undoubted crisis that it was in a few years ago. It has the strength to reinvent itself repeatedly and to deal with difficult situations.

And what – in very general terms –

is the bank’s particular appeal to career

starters? Credit Suisse has recognized that only well-trained staff who continue to grow personally and professionally can generate real added value for the company. The range of graduate-level entry options is correspondingly broad – there are 25

different positions to choose from in private banking, asset management and investment banking, not to mention support functions – but the subsequent career development opportunities we offer are perhaps the biggest draw. One major advantage is certainly that someone can plan their career not just nationally, but also internationally. However, even those who stay within the same area won’t get stuck in a rut. Teams are constantly changing. You can spend your entire career with Credit Suisse without it ever getting boring.

How does a banking career today

differ from that of 10 years ago? The main difference is that things now move faster and faster. Competitive pressures force us to respond ever more rapidly when it comes to modifying our services and products. The multicultural aspect –

“A Career in Our Bank Is Never Boring”Credit Suisse is a sought-after employer in the dynamic world of finance. Christian Machate, head of Human Resources Credit Suisse Switzerland and global head of HR Private Banking, explains the particular appeal of Credit Suisse as a career starting point.

Christian Machate is head of Human Resources at Credit Suisse Switzerland, which employs a staff of 20,353.

a conscious decision to make the most of global opportunities – was also less marked a decade ago.

Doesn’t globalization mean that

Credit Suisse will reduce its Swiss

workforce and redeploy its best

staff to the Group’s other operational

centers? As a global player, Credit Suisse uses its position to provide certain ser-vices from other locations where this is the best option. The flip side is that more and more jobs in Switzerland are those which generate high added value. There has been a sharp increase in the figures over the last two years. We even started the year with around 600 vacancies, be-cause it is difficult to find highly qualified people. At Credit Suisse we think beyond our own backyard. Increasingly, our clients have experience of the wider world and also expect the same from the staff at their bank. The more familiar employees are with other regions and divisions, the better the bank does – even when looking just at Switzerland.

What key criteria must college

graduates fulfill? For me, the main thing is that they are open, have integrity and are willing to perform. It is very important that they have the ability – and desire – to work in a team. They also have to be able to hold their own in a complex environment, and show initiative.

Is it easy to find capable college

graduates? Competition for the best talent is always tough. That said, all in all we have reason to be really happy. Our

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High Flyers in the World of FinanceStarting out on the career ladder with a global financial services company steeped in tradition: an attractive proposition for many students. Fabienne Müller, herself a trainee with Human Resources, looked into the various routes toward a career with Credit Suisse.

The figures speak for themselves: With around 1,500 hopefuls applying for the roughly 200 trainee positions available in 2006, jobs at Credit Suisse are obviously much sought after among school-leavers in Switzerland. “We want to position our-selves as an attractive employer for young talent, one that can offer them challenging tasks, the chance to be active at interna-tional level along with long-term develop-ment opportunities,” says Lukas Vonesch, head of Campus Management Switzerland. To ensure the smoothest possible entry into the world of work, Credit Suisse pro-vides training programs for apprentices, high school and university graduates.

Banking Apprenticeship with Future

School-leavers with good qualifications can serve an apprenticeship at Credit Suisse. An interest in banking and finance is the main requirement for the three-year banking apprenticeship, according to Lukas Vonesch. “But trainees should also enjoy working directly with clients and demon-strate team spirit, as well as being open and cooperative toward their superiors and hard-working.” Alongside practical experi-ence in the various subject areas, appren-tices are also given off-the-job training in modules covering financial services and client advisory services, for example.

School-leavers who are particularly interested in IT can apply for a four-year apprenticeship with a focus on either ap-plications development or systems tech-nology. At the end of this time, apprentices will have been given a wide-ranging insight into the world of banking, complementing the in-depth knowledge they have built up

in the IT field. There are several steps to the application procedure, during which potential trainees must impress the re-cruitment specialists with their individual qualities and talents. Once they have cleared these hurdles, they can look for-ward to an interesting apprenticeship ulti-mately leading to a state-recognized qual-ification.

And the future remains bright from there on in: Credit Suisse is interested in permanently hiring as many of its trainees as possible at the end of their appren-ticeship. The figure currently stands at 80 percent. “Our apprentices have excellent prospects within the company, because they know our bank well. Thanks to the

training they have received, they are well qualified for a number of different functions. What’s more, our development program means we can offer them long-term career prospects,” says Lukas Vonesch. And there is a particular prize in store for the top 20 graduate apprentices: the Junior Talent Program lasts for 20 months and gives participants the opportunity to build on their knowledge in their target function area, to attend additional off-the-job courses and to hone their language skills abroad.

Going Straight Into Banking

Just finished studying for your school- leaving exams and don’t fancy starting all over again at university? More and more

This speaker is addressing the issue of the bank’s responsibility in the area of sustainability.


•


high school graduates would prefer to just set out on their professional career straight-away. Credit Suisse helps them to do just that by offering young talent in the 18 –25 age bracket the chance of a direct start. The 24-month training program of the same name lays the foundations for a career in banking. “Qualifications in business-related subjects are an advan-tage, since they signal that the student has an interest in this area. The important thing is to show an interest in banking and finance,” explains Lukas Vonesch. The traineeship kicks off in the first year with two work placements of six months each. At the same time, the Direct Starter acquires specialist knowledge in off- the-job modules. The focus is primarily on “assistant” functions in private banking, as well as in the corporate client or credit field, but the modules may also involve a stint in asset management. In the second year, two further placements allow partici-pants to deepen the knowledge they have

acquired, and they embark on practice- related project work. Finally, when the project work has been completed and recognized and the final exam taken, the Direct Starter receives a diploma from the Swiss Bankers Association and the European Foundation Certificate in Bank-ing, the ideal springboard for their future career.

First Career Steps After University…

You have a top-notch degree in your pocket and are simply itching to put all that knowledge to use in the business world. You are looking for an employer who is an international player, a brand that stands for innovation and integrity and that has carved an illustrious name for itself thanks to the results it has achieved. In addition, your employer should encourage both your personal and career development. Here too, Credit Suisse is the right company with which to get a foot on the career ladder. The 12- to 18-month Career Start

program offers university and college graduates the ideal platform for putting their talents to the test. Career Starters can choose to specialize in one of more than 25 entry areas such as private banking, credit management, investment banking, asset management as well as financial and accounting, human resources and corporate development. In addition, an assignment not specific to the target function offers insight into a second area. Focused off-the-job modules ensure that trainees receive training across a range of specialist areas too. The opportunity to spend time working abroad provides a further incentive for out-standing per-formance.

If their application meets with initial approval, interested graduates are invited to take part in an online assessment. A structured telephone interview, a per-sonal interview and a performance test then follow. When it comes to selecting candidates, what they have studied plays

February 2007: 20 Career Starters get to grips with the world of CS at a week-long crash course.

A variety of topics are tackled by individuals or groups and presented to the entire group.



Digging DeeperWhat do students need to do to be genuinely of interest to Credit Suisse? Lukas Vonesch, head of Campus Management Switzerland, replies to three essential questions.

How important are the grades achieved

at school or university? The grades gained at school, college or university are just one important factor among many when it comes to assessing applicants. This is not a question of elitism. Good comprehension skills and the ability to learn are necessary, however, when it comes to understanding the world of banking with all its complex markets, processes and products.

Is a master’s degree necessary or

is a bachelor’s good enough? We need to make a distinction here between universities of applied sciences and other universities. The former currently award bachelor’s degrees. A bachelor student with work experience who intends to gain postgraduate qualifications at a later stage is therefore of interest to us. At university level, most holders of a bachelor’s degree go on to take a master’s before applying to join Credit Suisse. However, we are in the process of gathering experience as to which are the best entry opportunities for bachelor students and which functions are particularly suitable.

How do I get in touch with Credit

Suisse? Our website contains all the necessary information on our entry pro-grams, and you can apply online. In addition, a number of events are staged for trainees and high school graduates, and we maintain a strong presence in the universities too. We also advertise places available on our programs in the press. But applicants have to know what they want and where they see themselves within the bank. “I want to work for you,” isn’t suffi-cient motivation in itself. fm | schi

meyer, head of Recruiting Switzerland, has to say: “As a rule, high school gradu-ates join us via one of our entry programs. However, if someone has the right profile and offers exceptional experience or language skills, then they may well be selected by us for a specific function without further ado.” But future Credit Suisse professionals generally undergo training via one of the custom-designed

programs. “The young talent we deliber-ately promote through the entry programs represents the experienced business cadre of the future. This is a source that can later be tapped by recruiting.”

Young people with motivation are what is needed: Each year, Credit Suisse takes on 220 Career Starters, 120 Direct Starters and 200 apprentices in Switzerland alone. Who will take this opportunity? I

a secondary role in the eyes of Credit Suisse: the Career Start program is basically open to all university and college graduates, although those with a degree in economics, law or IT will have a certain advantage. However, it is the overall package that really counts: Credit Suisse is looking for personalities who are client-focused and willing to do their bit, who are team players and results-driven, who think innovatively and take a systematic approach to problem-solving.

Two Further Possibilities

Anyone wishing to gain some practical experience during their studies can apply for a three- to six-month internship. Poten-tial interns go through the same selection procedure as the Career Starters. “We want to identify the best talents right from the outset, to concentrate our efforts on the right people and to introduce them to the bank,” states Lukas Vonesch. “We also want to build their long-term loyalty to Credit Suisse.” Any interns who stand out as key performers are given the chance to join the Junior Career Start program. They can then continue to work for the bank part-time while completing their studies.

There’s one more program on offer: Academic Research is a two-year program in which graduates can combine their academic interests with practical work while working on writing their thesis. Sup-port is given to theoretical questions in ar-eas which are of strategic importance to the bank and which can best be combined with practical work. The 80-percent FTE position allows the motivated researchers to work for the bank in their specialist area and to devote part of their working hours to their dissertation.

Direct Entry to Credit Suisse?

Can I apply directly to Credit Suisse in response to an advertised vacancy immediately after leaving school or university? Here’s what Daniel Hippen-

Lukas Vonesch makes sure that young talent finds its way to Credit Suisse.



International Start www.credit-suisse.com/standout

Target group University graduates

Duration Three years

Requirements Completed university degree, excellent final grades, personal and social skills, performance and results driven, client focus, systematic problem-solving skills and ability to develop different solutions.

Academic Research www.credit-suisse.com/careerstart

Target group Postgraduate students

Duration Two years

Requirements Field of study of strategic rele-vance for the bank, which can be easily combined with practical work. In addition, high performance and results driven, strong client focus, integrity, team skills, initiative and desire to innovate, syste-matic problem-solving skills, ability to develop different solutions and make decisions, as well as ability to work under pressure.

Career Start www.credit-suisse.com/careerstart

Target group University and university of applied sciences graduates

Duration 12 to 18 months

Application procedure Full application with letter of motivation, online assessment, structured telephone interview, multimodal interview and performance test.

Requirements Completed university degree ideally in business studies, economics, law or IT, high performance and results driven, strong client focus, integrity, team skills, initiative and desire to innovate, systematic problem-solving skills, ability to develop different solutions and make decisions, as well as ability to work under pressure.

Joining Credit SuisseSummary of Key Points

Internship www.credit-suisse.com/careerstart

Target group University and university of applied sciences students

Duration Three to six months


Requirements Enrolled at a university, preferably studying business studies, economics, law or IT, high performance and results driven, strong client focus, integrity, team skills, initiative and desire to innovate, systematic problem-solving skills, ability to develop different solutions and make decisions, as well as ability to work under pressure.

Direct Start www.credit-suisse.com/directstart

Target group High school graduates

Duration Two years


Requirements Matura high school diploma (preferably with business focus), good school performance, interest in banking and finance, willingness to perform and team skills.

Apprenticeship www.credit-suisse.com/firstjob

Commercial banking apprenticeship Duration Three years

IT apprenticeship Focusing on “Application development with commercial profile” or “Sys-tems technology for banks.” Duration Four years

Target group School leavers with statutory school leaving certificate.

Application procedure Full application with letter of motivation and MultiCheck, selection day with information part, interviews and group talk.

Requirements Good school performance, moti-vation to work in banking, enjoyment of working with people and good academic ability.

Publishing Details

Publisher Credit Suisse, P.O. Box 2, CH-8070 Zurich

Editors Daniel Huber dhu Andreas Schiendorfer schi Dorothée Enskog de

Contributors to this issue Nicole Baumann (nb), Mina Dello Buono, Theresia Büsser Stalder, Michèle Bodmer, Julie Kalish, Caroline Koch, Fabienne Müller (fm), Mandana Razavi, Cecilia Seimel, Alicia Whitaker, Anne Zimmerli

Internet www.credit-suisse.com/infocus > Dossiers > Job & Career

Marketing Veronica Zimnic

Design Arnold Design AG, Uerikon ZH Daniel Peterhans, Monika Häfliger, Urs Arnold, Petra Feusi (Project Manager)

Layout and Typesetting Arnold Design AG, Uerikon ZH

Printing NZZ Fretz AG, Zurich

Translations Credit Suisse Language Services, ManRey Übersetzungen GmbH, Baden

Proofreading text control, Zurich

Photography John Abbott Cover, pages 2, 3

Mark Bostock Page 13

Keith Günthardt Page 11

Martin Stollenwerk Pages 5, 6, 9, 10, 12, 15, 16, 17, 18

Muir Vidler Page 2

Ying Yi Page 3

BB_e_7g_Links.indd 19 16.3.2007 12:53:00 Uhr

www.credit-suisse.com/standout

www.credit-suisse.com/careerstart


www.credit-suisse.com/infocus

www.credit-suisse.com/directstart


www.credit-suisse.com/firstjob

Some thinkgraduation.

We think careeropportunities.

We value talented young people who approachchallenging tasks with commitment and wish toadvance their career by assuming a high level ofresponsibility. Your above-average degree result,confident personality and strong social skills makeyou the ideal candidate for a career with us.Attractive Career Start opportunities await you. www.credit-suisse.com/careerstart

Thinking New Perspectives.

Investment Banking • Private Banking • Asset Management

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