Credit Suisse Sucks Customer Reviews and Feedback
Credit Suisse Group AG is a global wealth manager, investment bank and financial services company founded and based in Switzerland. Headquartered in Zürich, it maintains offices in all major financial centers around the world and is one of the nine global "Bulge Bracket" banks providing services in investment banking, private banking, asset management, and shared services. Credit Suisse is known for its strict bank–client confidentiality and banking secrecy practices. Credit Suisse was founded in 1856 to fund the development of Switzerland's rail system. It issued loans that helped create Switzerland's electrical grid and the European rail system. In the 1900s, it began shifting to retail banking in response to the elevation of the middle class and competition from fellow Swiss banks UBS and Julius Bär. Credit Suisse partnered with First Boston in 1978. After a large failed loan put First Boston under financial stress, Credit Suisse bought a controlling share of the bank in 1988. From 1990 to 2000, the company made a series of acquisitions dramatically increasing their market share via the purchases of Winterthur Group, Swiss Volksbank, Swiss American Securities Inc. (SASI) and Bank Leu, among others.
An employee said this in an anonymoue interview, "Credit Suisse has zero transparency. The feedback mechanism is poor. The HR has very little to no fair play and the department is strongly driven by businesses with biases. Growth opportunities are limited to favoured. And the flat hierarchy barely gives you enough opportunities to grow vertically. Overall, it is only a big brand name from the past with zero values in practise and only limited to posters."
Former Employee - Assistant Vice President says"Toxic culture. It really depends on your Department, but it's not worth it to work here. Unless you enjoy high stress, having to do a whole lot with nothing, and working with certain people that make things difficult for no reason, I would work anywhere else. There was a potential to be really successful here, but it is not worth it. There is also a lot of change in upper management and for me, it was hard to trust them."
Current Employee - GIS Analyst says"No work/life balance, and having to deal with bully pulpit management,"
Former Employee - Product Owner says"- Absolutely psychotic and delusional upper management that rewards employees for regular 15 hour workdays and cluttered powerpoint presentations - Abusive, bullying bosses providing a constant stream of conflicting directions/expectations while breathing down the back of your neck at every second - Total creeps that carelessly leave books out on their desks about manipulation techniques - Greasy, used car salesman types who fake their way through failed projects while using their colleagues as punching bags, all for the coveted DIR promotion - Developers from the boondocks who have never heard of Slack and can never properly estimate their work - Revolving door levels of turnover: 10+ colleagues (out of 15) left the team in under a year, all citing the same reasons, such as "no psychological safety" and "toxic environment" and "abuse" - HR department only exists to hire and fire-- the only way to report anything is via the "Integrity Hotline," advertised as a place to report highly suspicious and unethical behavior like fraud and proven sexual harassment (effectively discouraging more commonplace issues like deranged bullies) - Antiquated ways of working while lying about modernity - Obsession with titles like VP, DIR, etc. though they have zero meaning outside of the bank - Compliance uses other bank's mistakes as examples while completely ignoring their own colossal failures - Nonexistent onboarding, needlessly complicated and irrational offboarding procedure-- making life hell until the bitter end"
Former Employee - Vice President says"Horrible bonus and raises and constant reductions in force in New York"
Former Employee - Anonymous Employee says"Culture in investment banking is negative. High turnover."
Former Employee - Anonymous Employee says"Lack of professionalism and training"
Former Employee - Assistant Vice President, Global Markets Operations says"Massive politics, ever changing management, uncertain career trajectory"
Current Employee - Investment Banker says"Management turns a blind eye to sexism"
Former Employee - Research Associate says"Low salary comparing with other banks. Political."
Former Employee - Managing Director says"Stay away from Global Markets, poor leadership and no vision for growth Town halls provide zero useful info. Just bumbling heads who ramble on and on and on.... Very difficult to get anything done, processes are slow and technology is old Most good people have left the bank already so remaining crowd is not motivated or comptent Worst are the MDs in business and technology inside GM. The bank would be better without them - most are there 20+ years an collecting fat checks and rarely show up for work and blame others for their mistakes."
finance (Former Employee) says"I don't recommend - they employ their friends or people who are not professionally prepared for the positions. HR and managers are not responsible and they show no action when is required. Better don't waste your time for this company."
Risk Analyst (Current Employee) says"There is no appreciation for the work you do. Managed by people who have no technical skills. The pay is below industry standards and your hard work is not rewarded but still expected it of you."
AVP, Operations Manager (Former Employee) says"Credit Suisse has been struggling financially for years and each year they squeeze the employees more and more. The new building is designed to squeeze as many employees into a space as possible. The culture is concerned only with profitability. The hours are long and the managers rarely show any appreciation for their teams. You don't want to work here."
Senior Analyst (Former Employee) says"Culture is the worst out of my employment history. You can join CS for the brand name but advise to find another job after a year as the yearly increment/bonus is very little/non existent. Don't waste your time slogging in CS as it is not rewarding."
Investment Reporting Specialist (Former Employee) says"There pure rat race of getting most paid and doing little. Continous show like we are the best of the best of the best. Really like the scene from MIB."
AVP (Current Employee) says"No identity and ZERO core competencies; failing trading business is worst in industry and being dissolved further by the day. Costs are unconscionably cut EVERYWHERE - this may be the cheapest company in history. It hires nothing but bottom-barrel talent. Every skilled worker has quit or been fired to employ the lowest cost labor possible. UNETHICAL employees are rampant and morale is at absolute rock bottom.NoneToo many to list"
ENO (Former Employee) says"Poor work environment. Inefficient work culture and poor pay package. Not fit for growth in career. The work is simple copy and paste and there is no technical knowledge involved. It is clerical job and is like a call center."
Sales Trader and M&A Associate (Former Employee) says"Iworked there so long ago i have few thoughts on the company to be honest, had a few different jobs there and was relocated overseas then bac to US in atlantatravelpay"
Business Analyst / Data Analyst / ETL Developer (Former Employee) says"Credit Swiss models itself around a global atmosphere that will eventually devour itself. They have no idea of the feelings of their workers who despise the west yet are managing their money. It's unbelievable!Getting an idea of a global societyReality of a global society"
Compliance/Registration Analyst (Former Employee) says"Enjoyed working with my coworkers. A lot of work daily but enjoy when I am kept busy. I also enjoyed when we had orientation for new hires I was the one that welcomed them and told them all important information they need to know starting their job. Even when the brokers and managers would call with a problem I enjoyed calming them down to resolve their issues. Advised them on what they need to perform their job duties.Advising the brokers what was needed for their job duties.Sent over work to other countries and then alot of workers lost their jobs."
VP (Current Employee) says"Horrendous quality of life and general work environment. They continue to lay people off at the bank and now everyone that is left has to do the job of 3 + people."
Hôtesse d'accueil standardiste (Former Employee) says"Managment ca-ta-strophique, avec chef hôtesse abusant de son tout petit pouvoir, personnel malhonnête n'hésitant pas à accuser les autres (dont moi) de ses propres erreurs, salaire minable (suis passée cependant par société de prestation).collèguesresponsables imbuvables et plus qu'imbus d'eux-mêmes, menteurs, très snobs"
Software Engineer (Former Employee) says"Highly intelligent and analytical colleagues. Morale is non-existent with the infrastructure changes. No raises.Highly intelligent and analytical colleagues.Morale is non-existent with the infrastructure changes. No raises."
Senior Equity Research Associate (Current Employee) says"Bureaucratic management and selfish bosses prevent career advancement."
Product Controller- Treasury (Current Employee) says"I have learned a great deal about the banking and investment industry. Great experience for an accounting or finance major. Training has been excpeptional and management truly treats you as a partner."
Assistant Vice President (Current Employee) says"Like most banks, Credit Suisse was hit hard during the financial crisis and has attempted to weather the storm without completely recovering. Every year, compensation decreases along with headcount reductions, causing employees to do the work of multiple people. Employees are expected to work long hours, but any overtime worked factors into the calculation of year-end bonuses as "total compensation" (the result being that more overtime means less bonus). Management has no idea what they're doing and they continue to stifle their employees with no advancement, increasing workload and no compensation. It's just a matter of time before this IB bites the dust."
Assistant Relationship Manager (Former Employee) says"Sehr stressiger Arbeitsort mit wenig Coaching und sehr viel selbständigem Wissensaufbau. Keine Unterstützung vom Management. Mobbing sehr verbreitet."
Senior Analyst (Current Employee) says"This is one of the worst company with work culture and management I have ever worked with. I can rant on like crazy but the shocking bit is its just not my own feeling as I am just echoing the environment the company has overall."
Ex employee of FLDS (Former Employee) says"The head of FLDS is very difficult to work with. He is a picky man with micro management style. He treated staff as a dog. He is very unfair and selfish boss. He retain staff very late and,always hold meeting for few hours.NoFLDS head is very poor and bad guy"
Assistant Consultant (Current Employee) says"waste account in tcs. worst kind of work. if u r telegu and tamil u can survive. have no knowledge how to treat other people use technologies which is not found anywhere"
T163 says"The Swiss Banking system for the average person is absolutely dreadful. You can not pay online with a debit card (like every other country in the world) so you must get a credit card (which costs 'X' amount per year). You can not then just simply transfer between accounts online in order to pay off your outstanding debt on the credit cards (like every other country in the world) you must wait for a payment slip from a different company (SwissCard) so then you can pay it off online through some other monotonous process. Having lived in the UK, Australia, New Zealand, Canada, France and South Africa (and now Switzerland). I can easily say that this is without a doubt the stupidest banking system I have ever come across. Incredibly inefficient and counter productive"
loulou Alj says"Never use this bank. They are so bad. I opened a student account with them, Geneva. I received the credit card, but not the passcode. I received 3 posts from them including their student promotions. I visited the branch twice regarding the password. Everytime they say we will issue new cards with password, and I never received it. So I had to chase them, call and go in person a coupleof times. After over 4 weeks, the so called advisor said the address was the problem, and they need attestation. It makes complete no sense. Hello!!! I already received 3 posts from you. It seems they are running out of excuses so they just made up a new one. How is address a problem if I have already received posts from you? Why this was not raised when I opened the account with you or when I visited/called you? Why you tell me after chasing you for more than a month? It’s the worst service ever! They wasted my time. The employees are careless, and everyone is trying to blame the other. Very unprofessional!!!! I complaint. Nothing happened. I asked to investigate the issue. Nothing happened. They are careless. It’s a big waste of time. Don’t put your money there. I transfered my money to another bank and closed my account forever and for good. Updates: The irony the relationship manager says on the phone we are unable to send posts and that I need to provide attestation from authoriries for my address. And the next day, I receive a letter from them to the same address by post about my compaints. What is it for a service?"
Stephen Halliwell says"Never ever use this company, my mother took out an account with this company, for her granddaughter to mature and pay out in July of 2018, but unfortunately she passed away before it was due, and trying to get them to pay out is a nightmare they ask me to send them items of proof which I have done more than once and every time they say they are happy to pay out a few days later I get a phone call or letter to say that they need some other sort of proof or ask me for items that I have already sent them. To me it is a delaying tactic so that they do not have to pay out what it owes, never ever use them again and advise everyone to stay away"
Jan Vincel says"As an expat with B permit, I would like to open a bank account here. I did not want to waste 1-2 hours as unsolicited customer. So I tried to schedule an appoimtment using the main website. Left contact, no one responded a week. So I followed online onboarding. After few days, they request "copy of your valid and signed residence permit". Well, that exactly is step 2 of online onboarding process. I provided it, so may be they cannot read, or download a copy. If they want my signature on a piece of paper, they should really polish the onboarding process and add new step... Customer support did not provide any clarification, nor other options how to proceed, for example personally. Poor. I give it third try. I walk in personally to a branch office and request onboarding again. So far the online customer experience is tragic, a bit behind the digital age. However, I will finish the onboarding in any way and ask for explanation. In your case, try probably something else. Really poor. 2 stars for nice website, and great customer care. My feeling is they do not need new customers."
CloutNewsMedia says"Credit Suisse Merges Investment Banking Division and Other Key Changes #creditsuisse #investmentbanking #trading… https://t.co/6Qs55CXGbo"
thecommongreen says"At that time, those ~500 billionaires commanded around $2.5 trillion in assets - About 1.5% of the world's $160 tri… https://t.co/5JMmHmbJQR"
dakotafinancial says"GALP ENERGIA SG/ADR $GLPEY Stock Rating Reaffirmed by Credit Suisse Group https://t.co/M8iJE9xsrg"
ThisLincolnian says"Credit Suisse Group Increases Norfolk Southern $NSC Price Target to $216.00 https://t.co/eXhePUjPyx"
In The News
Yahoo Finance reports"Swiss court rejects Credit Suisse bid to block FINMA spying scandal appointment"
CNN reports"Credit Suisse CEO Tidjane Thiam resigns after spying scandal"
FXStreet reports"S&P 500: Threat of a corrective setback remains – Credit Suisse"
Yahoo Finance reports"Credit Suisse settles U.S. shareholder lawsuit over debt writedowns, disclosures"