Publications
Publications
- January 2003 (Revised February 2004)
- HBS Case Collection
The Credit Suisse Group
By: Ashish Nanda and Kelley Elizabeth Morrell
Abstract
On September 19, 2002, Lukas Muhlemann announced that he would step down as chairman and CEO of the Credit Suisse Group, effective January 1, 2003. The bank had progressed from a small Swiss start-up 150 years ago to a global banking powerhouse. Over the past 5 years, it had grown rapidly in pursuit of Muhlemann's Allfinanz vision. However, 2002 had been a very difficult year. Its investment banking arm had been tarnished by scandal in a difficult business environment, the insurance arm had suffered considerable losses, and the stock price had dropped inexorably. Credit Suisse's new leadership was musing over the changes required to rejuvenate the group.
Keywords
Change Management; Business Growth and Maturation; Management Succession; Problems and Challenges; Business Startups; Banks and Banking; Banking Industry; Switzerland
Citation
Nanda, Ashish, and Kelley Elizabeth Morrell. "The Credit Suisse Group." Harvard Business School Case 903-087, January 2003. (Revised February 2004.)