WOOD & Company to acquire Credit Suisse’s traditional asset management business in the Czech Republic

WOOD & Company and Credit Suisse WOOD pursue partnership in Central Europe

Prague / Zurich July 9 – WOOD & Company and Credit Suisse WOOD are pleased to announce that on 7 July 2009, it signed a contract for the purchase of Credit Suisse’s traditional asset management business based in the Czech Republic. The transaction will involve the transfer of assets under management amounting to CHF 500 mio to WOOD & Company. The terms of the transaction are undisclosed.

The transaction will involve the transfer of assets under management amounting to CHF 500 mn to WOOD & Company, while nine Credit Suisse staff will also be transferred as part of the deal. As part of this sale, Credit Suisse will pursue a joint partnership and strategy to increase and broaden its asset management distribution activities in Central Europe through the network of WOOD & Company. Central Europe and the Czech Republic remains a core market in the strategy of Credit Suisse, and the cooperation with WOOD & Company is an important step in furthering this strategy. Through this acquisition, WOOD & Company continues its expansion in the area of financial asset management services.

"We intend to be a leading player in the investment instrument portfolio management market for both institutional and individual customers, and mutual fund management. We plan to build on the successes of Credit Suisse in these areas. WOOD & Company bring a large team of top financial analysts, who cover not only the Czech Republic, but practically the entire region of Central And Eastern Europe, as well as an effective approach to stock markets in these regions. The traditional asset management business if Credit Suisse in the Czech Republic has a team of experts who have been devoting themselves to the management mutual funds for retail and institutional clients and management institutional assets for over fifteen years now. A functional and established team, know-how and an already existing product line were all reasons for our acquisition of precisely this company," says Jan Sýkora, the WOOD & Company chairman of the board and partner responsible for this transaction.

Michael Rüdiger, CEO Central Europe for Credit Suisse, commented on the sale: "Our Asset Management activities in Central Europe will be continued in the future through this partnership, which will benefit our clients through enhanced cooperation partners. We are delighted to have found in WOOD & Company an innovative partner with profound knowledge of local markets as well as outstanding roots in the Czech Republic and Slovakia in particular. Credit Suisse has already collaborated successfully with this company for a number of years in Investment Banking."

Petr Holínský, Chairman of the Board of Directors of the Czech branch of Credit Suisse, added: "I am convinced that for existing as well as future clients, WOOD & Company will deliver high-quality services and serve as a trustworthy partner. We will continue to provide and develop distribution and information support for foreign Credit Suisse mutual funds. We very much look forward to working with WOOD & Company." Tom Albert, Head retail Distribution Central Europe, added: "This cooperation combines the local market knowledge of WOOD & Company with the global asset management expertise of Credit Suisse. Our clients are set to benefit from this development."

Jaroslav Krabec, the head of asset management at WOOD & Company, indicates further plans of the merging companies: "We intend to soon present new products customized to client needs, to improve distribution and customer service, and most of all to impress additional clients with the performance of our products, founded on the broad know-how of WOOD & Company. The serious declines of financial markets during the last two years have resulted in unprecedented investment opportunities, and we want to offer our clients the ability to truly take advantage of these opportunities within the context of their risk profile."

The sale is consistent with Credit Suisse’s strategy to focus on its alternatives, asset allocation/Multi Asset Class Solutions (MACS) and Swiss businesses, which follows the sale of its traditional asset management businesses to Aberdeen Asset Management announced in December 2008.  In the Central European region, Credit Suisse sees WOOD & Company as a high-quality and reliable partner with an excellent reputation. The acquisition of the Czech investment company was a logical expansion of our successful collaboration t in the areas of investment and private banking.

The acquisition completion is subject to approval by the Czech National Bank and the Office for the Protection of Competition.

 
Information
Credit Suisse: Valentin Jakubow, Corporate Communications, Tel. +49 69 26911 116;
E-mail: valentin.jakubowcredit-suisse.com

WOOD & Company: David Šimoník, Media Representative of WOOD & Co. Tel.: 774 280 831
E-mail: david.simonikrelativepr.cz

WOOD & Co, a leading investment bank in the region of Central and Eastern Europe, is owned for the most part by its local partners, Jan Sýkora, Andrea Ferancová, Vladimír Jaroš, and Lubomír Šoltýs. Headquartered in Prague, over 15 years the firm has gained a deep understanding of the markets of new EU countries. WOOD & Co provides its international and domestic clients with top quality investment banking and stock-broking services.

Credit Suisse, as one of the world's leading banks, provides its clients with private banking, investment banking, and asset management services. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high net worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 46,700 people. Headquartered in Zurich, Credit Suisse comprises numerous legal entities spread throughout the world. The registered shares of Credit Suisse Group (CSGN), the parent company of Credit Suisse, are listed in Switzerland, as well as in New York in the form of American Depositary Shares (CS). Further information about Credit Suisse can be found at www.credit-suisse.com.

Disclaimer
This document has been produced by Credit Suisse. The opinions stated herein are those of Credit Suisse at the date of writing, and may change at any time. This document has been prepared solely for information purposes and for the use of the recipient. It constitutes neither an offer nor a request by or on behalf of Credit Suisse to purchase or sell securities. Any reference to past performance is not necessarily a guide to the future. The information and analyses contained in this publication have been compiled or derived from sources considered to be reliable, but Credit Suisse does not make any representation as to their accuracy or completeness, and does not accept liability for any loss arising from the use of this information.