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Credit Suisse

Financial ServicesFounded 1856
Reviewed by Swet Parvadiya
Company data updated: October 2026

Founders

Who Founded Credit Suisse?

Alfred Escher · Founded 1856 · HQ today: Paradeplatz, Zurich, Switzerland

Who founded Credit Suisse?

Credit Suisse was founded by Alfred Escher in 1856. It is now led by Alfred Escher.

Founders
Alfred Escher
Founded
1856
Headquarters
Paradeplatz, Zurich, Switzerland
Number of founders
1
Current CEO
Alfred Escher (since 1856)
Where was Credit Suisse founded?
Credit Suisse was founded in Zurich, Switzerland in 1856.
When was Credit Suisse founded?
Credit Suisse was founded in 1856.
Who started Credit Suisse?
Credit Suisse was founded by Alfred Escher.
How old is Credit Suisse?
Credit Suisse is 170 years old as of 2026.

Founding Story

In the 1850s Switzerland's railways were being planned with money from French and German banks. Alfred Escher, a leading Zurich politician and railway promoter, wanted Swiss control, so in 1856 he founded Schweizerische Kreditanstalt. Its share offering was heavily oversubscribed, and the bank went on to finance railways, industry and, eventually, the Gotthard line through the Alps.

Alfred Escher

Background

Escher came from the wealthy Escher vom Glas family of Zurich and studied law at the University of Zurich. He sat in the Swiss National Council and led the Zurich cantonal government, which gave him the political network to raise capital for the bank and its railway projects.

Role at Credit Suisse

Alfred Escher (1819-1882) was a Zurich politician and railway entrepreneur who founded Schweizerische Kreditanstalt, the bank later known as Credit Suisse, in 1856. He wanted Swiss railways financed with Swiss capital rather than by French and German banks. The bank backed the Swiss Northeastern Railway and later the Gotthard Railway, which opened in 1882. Escher chaired the bank's board from 1856 to 1877 and again from 1880 to 1882, and he also pushed for the creation of ETH Zurich and the Rentenanstalt life insurer (now Swiss Life). Alfred Escher was born in 1819.

Credit Suisse: CEO & Leadership History

Full timeline →

Ulrich Körner

Chief Executive Officer (2022-2024)

2022 – 2024

Steered the bank through its final tumultuous months and successfully executed the operational integration of Credit Suisse AG into UBS AG before the legal entity's dissolution in May 2024.

Tidjane Thiam

Chief Executive Officer (2015-2020)

2015 – 2020

Returned the bank to profit, with pre-tax income of about $5.64 billion (CHF 4.7 billion) in 2019, and reduced risk-weighted assets, although the spying affair damaged its reputation.

Brady Dougan

Chief Executive Officer

2007 – 2015

He left in 2015 and Tidjane Thiam succeeded him.

Alfred Escher

Founder & Board Chairman

1856 – 1882

Built the domestic capital market that helped industrialize Switzerland and made Paradeplatz in Zurich a banking center.

Keep researching Credit Suisse

Who Founded Credit Suisse? FAQ

Who was Alfred Escher and why is he considered the founding father of modern Switzerland?

Alfred Escher (1819 to 1882) was a well-known Swiss politician, industrialist, and railway pioneer. Escher founded Schweizerische Kreditanstalt (Credit Suisse) in 1856, co-founded the Swiss Federal Institute of Technology (ETH Zurich) in 1855, and championed the construction of the Gotthard Railway and Gotthard Rail Tunnel (completed in 1882).

Why did Alfred Escher establish Schweizerische Kreditanstalt (SKA) in 1856?

In the 1850s, Swiss railway construction was funded and controlled by foreign French and German banks. Escher founded SKA to create a domestic capital market, enabling Switzerland to finance its own national railway infrastructure, industrial factories, and sovereign economic independence.

What role did Credit Suisse play in financing the Gotthard Railway?

Under Alfred Escher, the bank helped organize the financing of the Gotthard Railway, whose 15-kilometer tunnel through the Alps was the longest in the world when the line opened in 1882. Escher led the Gotthard Railway company until 1878.

How did Schweizerische Kreditanstalt establish Paradeplatz in Zurich as Switzerland's financial center?

In 1876, SKA completed its grand neoclassical headquarters on Paradeplatz in Zurich. The monumental building anchored the square as the epicenter of Swiss banking, where it stood for nearly 150 years as a global symbol of Swiss financial power.

How did Credit Suisse help create the modern Swiss life insurance industry?

In 1857, Alfred Escher and SKA co-founded Rentenanstalt (now Swiss Life), creating Switzerland's first and largest life insurance and pensions company, cementing Zurich's role as a global financial and insurance hub.

What core principles did founder Alfred Escher instill in early Swiss banking?

Alfred Escher instilled principles of national economic development, long-term industrial capital investment, rigorous financial engineering, and combining public service with private commercial enterprise.

How is Alfred Escher's memory honored in Zurich today?

A prominent bronze statue of Alfred Escher stands at the entrance of Zurich Central Station (Zürich Hauptbahnhof), celebrating his historic legacy as the creator of the Swiss railway network, ETH Zurich, and Credit Suisse.

What happened to Alfred Escher's institutional legacy following the 2023 collapse?

While Credit Suisse as an independent corporate brand was absorbed by UBS, Escher's foundational contributions, ETH Zurich, the Gotthard Railway, Swiss Life, and Switzerland's domestic industrial base, continue to endure as pillars of Swiss prosperity.

Who founded Credit Suisse?

Alfred Escher, a legendary Swiss politician and business leader, founded the bank. He is essentially considered the father of modern industrial Switzerland, heavily driving both the railway network and the banking system.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.