Change at the Top for Credit Suisse Philanthropy

Paul Adams

20 July 2007

The executive board of the foundations established by Credit Suisse (Accentus, Empiris and Symphasis) is being extended to meet the increased requirement for charitable commitment. The Swiss bank has announced that from mid-2008, Professor Joseph Jung will move up to the respective Boards of Trustees and hand over the reins of management to the designated chief executive, Daniel Otth. Mr Otth has more than 15 years of management experience at Credit Suisse, both in investment and private banking. Professor Jung has been managing director of the foundations since they were established. He will continue to act as chief executive in operational terms until 30 June 2008 to ensure continuity. From 1 January 2008, the executive board will comprise Mr Otth Giovanni Peditto (deputy managing director), Dr Jürg Spiller, and Josef Zellweger. The three charitable foundations give Credit Suisse clients the opportunity to make a charitable commitment by means of their own fund, with a cause that they select individually, or to invest via the existing channels. Whereas Accentus focuses on humanitarian, cultural, medical, and environmental projects, Empiris places its emphasis on science and research, and Symphasis looks to the environment and culture. All three foundations are composed in such a way that they cover as broad a charitable cause as possible.