Cheuvreux European Private Banking Conference · Cheuvreux May 21, 2007 Private Banking - Slide 1 Cautionary statement Cautionary statement regarding forward-looking and non-GAAP

CheuvreuxEuropean Private Banking ConferenceLondon

May 21, 2007

Michael M. Rüdiger

Cheuvreux May 21, 2007Private Banking - Slide 1

Cautionary statement

Cautionary statement regarding forward-looking and non-GAAP information

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Forward-looking statements involve inherent risks and uncertainties, and we might not be able to achieve the predictions, forecasts, projections and other outcomes we describe or imply in forward-looking statements.

A number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions we express in these forward-looking statements, including those we identify in "Risk Factors" in our Annual Report on Form 20-F for the fiscal year ended December 31, 2006 filed with the US Securities and Exchange Commission, and in other public filings and press releases.

We do not intend to update these forward-looking statements except as may be required by applicable laws.

This presentation contains non-GAAP financial information. Information needed to reconcile such non-GAAP financial information to the most directly comparable measures under GAAP can be found in Credit Suisse Group's first quarter report 2007.


Credit Suisse: A strong start to 2007

Net revenues1) 10,669 11% 9%

Total operating expenses1) 7,040 6% 9%

Income from continuing operations 2,729 17% 5%

Net income 2,729 5% (42)%

Diluted EPS from continuing operations in CHF 2.42 22% 6%

Cost/income ratio1) 66.0% 68.8% 65.7%

Return on equity 25.2% 24.4% 44.1%

Net new assets in CHF bn 43.0 27.2 6.9

vs. 4Q06vs. 1Q061Q07Change in % from

CHF m, except where indicated

1) for Core Results, i.e. excluding results from minority interests without significant interest

4Q061Q061Q07in


Record first quarter results

Pre-tax income

1'990

1'439

257

Investment Banking Private Banking Asset Management

1Q05 1Q06 1Q07

CHF m

+114%

+48%

+24%

Pre-tax income margin in %23.3 27.2 30.2 38.4 42.1 42.8 33.9 31.0 33.1


Private Banking: Facts and Figures as of March 31, 2007

1) Of which ~630,000 Wealth Management

2.45 million clients1)

22,400 employees

CHF 974bn AuM

CHF 166bn net loans

More than 160 Wealth Management locations worldwide

216 Corporate and Retail Banking branches in Switzerland


Pretax Income (in CHF m)

1) Annualized

Private Banking: Financial Performance

Net New Assets (in CHF bn)

5.8%7.5%

Pretax Income (in CHF m) Return on ERC (in %)

2,582 2,661

988

31.442.8

50.5

34.8 41.9

74.01)

1,1351,305

451

WealthManagement

Corporate &

Retail Banking

2004 2005 2006 1Q07 2004 2005 1Q07

7.3%

2004 2005 2006 1Q07 2004 2005 2006 1Q07

2006

3,237

7.8%1)

15.2

1,359

49.0


Wealth Management with strong revenues

Net revenues in CHF m

Total operating expenses in CHF m

735 702 629 714

569529 553 532 589

799

1Q06 2Q06 3Q06 4Q06 1Q07

Hired 160 RMs in the last 12 months

Higher expenses for premises, IT and sales & marketing costs reflecting international expansion

Pre-tax margin at 41.5%

Increase driven by higher AuM and improved recurring revenue margins

Progress in growing the business with a higher proportion from recurring revenues

2'227 2'034 1'8432'077

2'379

1Q06 2Q06 3Q06 4Q06 1Q07

+7%

+15%

G&A and commission expensesCompensation and benefits

Comments on 1Q07

1,264 1,255 1,161 1,283 1,388


Strong asset gathering momentum with good margins

Wealth Management

2004 2005 2006 1Q07

31

CHF bn

Net new asset growth on AuM in %

6% 8% 7% 7%

1)

1) Rolling four quarters

815

568

693

784

43

51

Wealth Management gross margin

73 71 73 71 70 75

40 4152

4232

3943

69

1Q 2Q 3Q 4Q 1Q

118109

101113

125112113

200620052006 2007

Recurring revenues

Transaction-basedBasis pointsNet new assets

Assets under management

15


Private Banking: Strategy

Premier global private bank

Client value proposition

International growth

Market share gains in

Switzerland

Integrating the banking businesses

Productivity and financial performance

Best people


Private Banking: Increasing Global Franchise

Service locations

Los Angeles

MiamiNassau

San Francisco

Dallas

Chicago Boston

AtlantaNew York

Mexico

CaracasBogotá

Lima

SantiagoBuenos Aires

MontevideoSão Paulo

Rio de Janeiro

Moscow

Cairo

Istanbul

Dubai

St. Petersburg

Abu Dhabi

Beijing

ShanghaiTaipeiGuangzhou

Hong Kong

Bangkok

Singapore

Jakarta

Cape Town

Johannesburg

Athens

Mumbai

Lisbon

Madrid

ParisZurich

ViennaFrankfurt

London

Guernsey

Gibraltar

Milan

Luxembourg

BeirutDoha

Baltimore

Monaco

Sydney

Melbourne

Switzerland: 216 service locationsGermany: 13 service locations Italy: 38 service locations France: 3 service locationsSpain: 3 service locations

Status: May 15, 20071) Brokerage license only, joint venture with Saudi Swiss Securities

Kuala Lumpur

Riyadh1)

Kiev


EMEA: AuM overview

20052004 1Q072006

199

239

272 282

CAGR17%

25% 20%

38%

17%

AuM per market area in 1Q07AuM (in CHF bn)

Germany / Austria

UK / Intl / Eastern Europe and Middle East

Italy

Spain / France


EMEA: Status update

Key achievements 2006

Further leverage hub in DubaiOnshore business in Austria; offices in Ukraine, Kazakhstan and IsraelExplore opportunities in Belgium, Central and Eastern Europe, Turkey and IndiaBroaden financing offering in Western EuropeSegment initiatives for top executives and entrepreneurs

Key figures

Way forward

Western Europe onshore profitableStarted onshore operations in RussiaOpened offices in Beirut and Doha, established joint venture in Saudi Arabia together with Investment BankingBuilt Sharia compliant product suiteStrengthened corporate advisory and mid cap servicesIncreased gross margin

AuM (CHF bn) 272

NNA growth1) 8%

Net revenues growth 19%

Relationship managers 1,068

Net new relationship managers1) 5%

Gross margin (bps) 120

1) Change from 2005

2006


EMEA: Key Initiatives

Wave 1

Built-uponshore operations

Wave 2

Segment Management

Market Management

Strategic AssetAllocation

Mid MarketUHNWI

t

Break-evenEuropean onshore

2

3

1


Strategic Asset Allocation: Holistic Advice

1 2

3

4

5Bonds

Liquidity

Equities

Alternatives

Real Estate

Asset Liabilities

Net worth

Liabilities

P & L

contributionper

asset & liabilityclass

Factors other than wealth

Client needsStructured advisory process

& toolsOptimized performance


What is Market Management?

To ... From ...

Clients placing their assets separately to various locations

Separate on- and offshore entities each managing their client base

Comprehensive solutions across jurisdictions

A global network of booking platforms and services

onshore booking centers

offshore booking centers


internal orexternal

AMInternational

AMDomestic

Third Party"Best Select"

Style & Manager Selection

PortfolioImplementation

Client Reporting

PerformanceMeasurement & Controlling

Functional Bundle Partner

RelationshipManagement Advisory

Credit Suisse Private Banking (PB)

Strategic AssetAllocation Recommendation

PB based on Credit Suisse Asset Management(AM) know-how

Components can be chosen

internal orexternal

Decoupling of the value chain

Credit SuisseOne Bank


Evolution of client segmentation

Enhancing wealth-and product-based segmentation... ...with qualitative criteria

Source of wealth

AuM

Life

-cyc

le p

hase

Behaviortype

...through client needs analysis

Voice of the Customer

Client profiling

Market research

Supported by detailed analysis of Economic Profit per Client


1) Source: World Wealth Report 2006 (Cap Gemini, Merill Lynch)

2) World Wealth Report: ≥ US$ 30 millions financial assets

Worldwide HNWI Population by Financial Assets, 2005

Low

-HN

WIs

Mid

-HN

WIs

Ultr

a-H

NW

Is

HIG

H-N

ET

- WO

RTH

-IN

DIV

IDU

ALS

US$ 1 Million –

US$ 5 Million

US$ 5 Million –

US$ 30 Million

≥US$30 Million

HNWIs(in Thousands)

% Change2004 –2005

85.4 10.2%

In 2005, the UHNWI2) segment has grown by 10.2%, compared to a 6.5% increase of the overall HNWI segment1)

UHNWI Segment – attractive growth rates

Total: 8,700 6.5%


Performance Measurement & Reporting

Manage regional UHNWI target client base

Agree individual performance targets for UHNWI advisors

Conduct performance reviewsand pre-sales steering in orderto orchestrate PB, AM and IBexperts

Perform quality assurance

Client & Prospect Management

Nominate dedicated Investment Partners to form virtual community with UHNWI focus (Elite team)

Coordination and management instruments for dedicated UHNWI activities and know-how exchange and leverage

External and internal positioning of value proposition

EMEA Investment Partners(virtual community)

Continuously develop/enhancea transparent and well communicated UHNWI offering

Maintain clear and pragmatic solution delivery processes and ownership with dedicated delivery coordination function

Products & ServicesDelivery Channels

UHNWI Management Framework in EMEA

Human Resources Recruiting Processes, Strategic Hiring, Retention, Training

UHNWI SUCCESSgrow with existing and new clients


UHNWI Delivery: an integrated offering

International Specialist Teams

SpecialistTeams

InsuranceConsulting

Asset /PortfolioManagement

TradingConsulting

Real EstateConsulting

CreditConsulting

Family OfficeServices

Wealth Structuring

InvestmentPartner

PhilanthropyServices

UHNWI Client

InvestmentPartner

SolutionSpecialists

Net worth

Assets Liabilities

FdjkfalöjdfkslöjFjfkaldöfjkdlaös

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Liquidity Credits

Company Stakes

Net worth

Assets Liabilities

FdjkfalöjdfkslöjFjfkaldöfjkdlaös



Fdjkfalöjdfks löjFjfkaldöfjkdlaöjfakdlöfjkalöfjd


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Liquidity Credits

Company Stakes

CorporateAdvisory

Private Equity/VC Consulting

Inheritance &Tax Consulting

TrustConsulting

InvestmentBanking

ExternalPartners

AssetManagement Solution

Specialists


European Market for Business Transfers: Large potential"One third of Europe's entrepreneurs will withdraw from business during the next ten years.It is estimated that, every year, this will affect up to 690'000 enterprises"(European Commission, 2006, Report of the Expert Group)

Germany

71'000 transfers yearly

44% Family transfer21% External sales16% External Managers 8 % Closing down11% Employees

UK


42% No planning27% Family transfer25% External Sales 6 % Closing down

France


Italy


Spain



Sub-segmentation used to target Entrepreneurs

Siz

eof

Com

pany

Client Behavior Types

Com

pany

Life

cyc

le

ForcedSeller

HiddenChampions

Market Leader


Investor Dis-Investor

Private Equity

Venture Capital

Mezzanine

Strategic & Financial Stakeholdings

Real Estate

Client1 Client 2

Segment specific & asset class specific advisory modules

Buy Side Advisory

P r i v a t e A s s e t & L i a b i l i t y M a n a g e m e n t

Net worth

Assets Liabilities

Fdjkfa lö jdfkslöjFjfkaldöfjkdlaös

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A bfdjkafdjk flöK dlafjkdlö fjak lFdjk falö jdfks lö jFjfkaldöfjkdlaösFdjk falö jdfks lö jFjfkaldöfjkdlaösFdjk falö jdfks lö jFjfkaldöfjkdlaösFdjk falö jdfks lö j

A bfdjkafdjkflöK dlafjkdlöfjaklFdjkfa lö jdfkslö jFjfkaldöfjkdlaösFdjkfa lö jdfkslö jFjfkaldöfjkdlaösFdjkfa lö jdfkslö jFjfkaldöfjkdlaösFdjkfa lö jdfkslö j

Liquidity Credits

Company Stakes

Net worth

Assets Liabilities












Liquidity Credits

Company Stakes

Net worth

Assets Liabilities












Liquidity Credits

Company Stakes

Net worth

Assets Liabilities












Liquidity Credits

Company Stakes

Matching

Platform

Mid Market: An excellent advisory business opportunity

Sell Side Advisory


Thanks for your attention!Happy to answer questions...!

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Cheuvreux European Private Banking Conference · Cheuvreux May 21, 2007 Private Banking - Slide 1 Cautionary statement Cautionary statement regarding forward-looking and non-GAAP