Credit Suisse, last year's main sponsor of the Salzburg Festival, has decided to extend its contract with the festival by a further four years, to 2012. The Salzburg Festival, founded in 1920, is one of the world's most famous festivals for opera, theatre, and concerts. Taking place every summer, the festival sets artistic benchmarks that leave a lasting impression on the international cultural scene. Credit Suisse recently expanded its private banking business operations in Austria, with the opening of offices in Vienna and Salzburg. Alongside its sponsorship of the Bolshoi Theatre in Moscow, the New York Philharmonic, and the Lucerne Festival, the partnership with the Salzburg Festival forms a core part of the bank’s international commitment to classical music.