Credit Suisse successfully launched its new subsidiary Credit Suisse (Switzerland) Ltd.
16 February 2017 – Credit Suisse (Switzerland) Ltd. was incorporated with the purpose to be organized as a Swiss bank. It is a wholly owned subsidiary of Credit Suisse AG. The transfer of assets and liabilities according to Swiss merger law became effective on 20 November 2016. The transfer was aimed to evolve the legal entity structure of the Credit Suisse Group to meet regulatory requirements for systematically important banks.
Walder Wyss advised Credit Suisse's business units Commodity Trade Finance (CTF) and Private Banking (PB) in the transfer of certain Swiss and foreign law security agreements guaranteeing loans granted by the bank. Walder Wyss coordinated and streamlined the advice of 30 international law firms in various jurisdictions all over the world in connection with such transfer and the requirements for the re-registration of these security agreements in those jurisdictions.
The Walder Wyss team was led by Hubertus Hillerström (Managing Associate, Banking & Finance) and further included Julia Lehner (Associate, Banking & Finance), Fabian Glässer (Associate, Banking & Finance), Tervel Stoyanov (Associate, Banking & Finance) and Simona Müller (Associate, Banking & Finance).