Short Story About a Change Process in My Organization and My Role in This Change Process
Short story about a change process in my organization and my role in this change process .
My Organization
Content of this short story is the organization of Credit Suisse AG (“Credit Suisse”), one of the two biggest full service banking organizations in Switzerland. Credit Suisse in itself has been established in 1856 and as of today employs 48.400 persons in 550 locations spread over 50 countries. The bank is active in the area of Private Banking & Wealth Management and Investment Banking.
Credit Suisse had four divisions (Private Banking, Asset Management and Investment Banking) includ-ing the so called Shared Services (“Shared Services”). The Private Banking division offers advice and financial solutions to private, corporate and institutional clients, serving among others more than 2M clients, including ultra-high-net-worth and high-net-worth individuals around the world . The Asset Management division offers investment products in a wide range of asset classes in both core in-vestments (equities, fixed income, real estate, index and multi-asset class solutions). The Investment Banking division offers a broad range of financial products and services, with a focus on businesses that are client-driven, flow-based and capital-efficient. Products and services include global securities sales, trading and execution, prime brokerage, capital raising and advisory services, as well as com-prehensive investment research. These three active divisions are supported by the Shared Services, including in particular the General Counsel divisions, Information technology and various other cor-porate services.
Within the Asset Management division, several sub-units have been established, either focusing on a certain region (e.g. Asset Management Switzerland) or on a certain divisional structure (e.g. Alterna-tive Investments – Illiquids).
My Role
I am working as an employee in the General Counsel division serving as internal service provider mainly to the Asset Management and especially to the Alternative and Real Estate Asset Manage-ment (“Business Units”). Furthermore, we service two units, which are part of the Private Banking division.
Private Banking
Private Equity Fund Solutions
Hedge Fund Solutions
Asset Management
Alternative Fund Solutions
Real Estate Asset Management
Insurance Linked Strategies
I lead a team of 20 FTEs that provide legal and compliance support for these business units that op-erate out of Zurich. Each business unit is mainly