Politician and business leader Alfred Escher founds Schweizerische Kreditanstalt to finance the expansion of the railroad network and promote Swiss industrialization.The bank moves into new headquarters on Zurich’s Paradeplatz; its first branch outside Zurich opens in Basel nearly three decades later.SKA creates Swiss American Corporation to focus on the underwriting and investment business.SKA takes over White, Weld and Co.
A reorganization turns CS Holding into Credit Suisse Group and drops the SKA name; it also buys insurer Winterthur, a strategic partner.The group buys the asset management business of Warburg, Pincus & Co., followed by the purchase of Wall Street firm Donaldson, Lufkin & Jenrette a year later.A reorganization creates two units: Credit Suisse Financial Services and Credit Suisse First Boston ; two years later it splits into three units by adding Winterthur.
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