Credit Suisse vs Fannie Mae: Founders, CEOs and History
Credit Suisse was founded in 1856 by Alfred Escher and is led by Ulrich Körner. Fannie Mae was founded in 1938 by Franklin D. Roosevelt, 75th United States Congress and is led by Priscilla Almodovar.
Company facts
Credit Suisse
- Founded
- 1856
- Headquarters
- Paradeplatz, Zurich, Switzerland
- Current CEO
- Ulrich Körner
- Employees
- 50,480
Fannie Mae
- Founded
- 1938
- Headquarters
- 1100 15th Street NW, Washington, D.C. 20005
- Current CEO
- Priscilla Almodovar
- Employees
- 7,400
Founders
Credit Suisse
Alfred Escher
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.
Fannie Mae
Franklin D. Roosevelt
Franklin Delano Roosevelt (1882–1945) signed Title III of the National Housing Act amendments into law in 1938, creating Fannie Mae as part of the New Deal to rescue American homeowners from foreclosure.
75th United States Congress
The 1938 US Congress that enacted the National Housing Act amendments establishing the Federal National Mortgage Association to provide a secondary market for home mortgages.
CEOs and their tenures
Credit Suisse
- Alfred Escher1856–1882
Founder & Board Chairman
Built the domestic capital market that helped industrialize Switzerland and made Paradeplatz in Zurich a banking center.
Source - Brady Dougan2007–2015
Chief Executive Officer
He left in 2015 and Tidjane Thiam succeeded him.
Source - Tidjane Thiam2015–2020
Chief Executive Officer (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.
Source - Ulrich Körner2022–2024
Chief Executive Officer (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.
Source
Fannie Mae
- Priscilla Almodovar
Chief Executive Officer
- Chryssa C. Halley
Executive VP and Chief Financial Officer
- Malloy Evans
Executive VP and Head of Single-Family
- Michele Evans
Executive VP and Head of Multifamily
- Terry Theologides
Executive VP, General Counsel and Corporate Secretary
Timeline: Credit Suisse and Fannie Mae side by side
1856Credit Suisse
Founding of Schweizerische Kreditanstalt (SKA) by Alfred Escher: Alfred Escher founds Schweizerische Kreditanstalt in Zurich in July 1856 to finance Switzerland's railway network and industrialization…
1876Credit Suisse
Move to Paradeplatz 8 Headquarters in Zurich: Completes its neoclassical headquarters at Paradeplatz 8 in Zurich, which became a symbol of Swiss banking.
1938Fannie Mae
Chartered by Congress under FDR's New Deal
President Franklin D. Roosevelt signs legislation chartering the National Mortgage Association (Fannie Mae) to provide secondary mortgage liquidity.
1948Fannie Mae
Authority to Purchase VA-Guaranteed Loans
Congress authorizes Fannie Mae to purchase GI Bill home loans guaranteed by the Veterans Administration for WWII veterans.
1954Fannie Mae
Charter Act Reorganization into Mixed-Ownership Entity
Congress passes the Federal National Mortgage Association Charter Act, establishing private shareholder equity alongside government control.
1968Fannie Mae
Privatization and Separation from Ginnie Mae
President Lyndon B. Johnson signs the Housing and Urban Development Act, splitting Fannie Mae into a private GSE and federal Ginnie Mae.
1970Fannie Mae
Authority to Purchase Conventional Mortgages
Emergency Home Finance Act grants Fannie Mae authority to purchase conventional mortgages not insured by the FHA or VA.
1981Fannie Mae
Issuance of First Mortgage-Backed Security (MBS)
Issues its first conventional Mortgage-Backed Security, pioneering modern mortgage securitization for global capital markets.
1988Credit Suisse
Acquisition of First Boston (CS First Boston): Merges its joint venture with New York investment bank First Boston, taking a large stake that became control in 1990 and creating CS First Boston.
1988Fannie Mae
Launch of Delegated Underwriting and Servicing (DUS)
Introduces the DUS multifamily lender program, pioneering risk-sharing partnerships with private apartment mortgage lenders.
1995Fannie Mae
Launch of Desktop Underwriter (DU)
Introduces Desktop Underwriter, an automated underwriting software engine that revolutionized American mortgage approval speed.
1997Credit Suisse
Winterthur Merger
Credit Suisse merged with the insurer Winterthur in 1997.
2000Credit Suisse
Acquisition of Donaldson, Lufkin & Jenrette for $11.5 Billion: Buys DLJ, then majority-owned by AXA, for about $11.5 billion, becoming a leader in leveraged finance and private equity sponsor advisory…
2008Credit Suisse
Navigating 2008 Crisis Without Swiss State Bailout: Credit Suisse raises about $12 billion (CHF 10 billion) from private investors including Qatar and survives the crisis without state aid, while UBS…
2008Fannie Mae
FHFA Places Fannie Mae into Federal Conservatorship
Amid catastrophic subprime defaults, the Federal Housing Finance Agency (FHFA) places Fannie Mae into federal conservatorship.
2013Fannie Mae
Launch of Connecticut Avenue Securities (CAS) CRT Program
Pioneers the Credit Risk Transfer market, issuing CAS bonds to offload mortgage default risk onto private institutional investors.
2014Credit Suisse
US Tax Evasion Plea
Credit Suisse pleaded guilty in May 2014 to helping US clients evade taxes and agreed to pay about $2.6 billion.
2015Credit Suisse
Tidjane Thiam becomes CEO
Tidjane Thiam became CEO of Credit Suisse in 2015. 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.
2019Fannie Mae
Launch of the Single Security (Uniform MBS / UMBS)
Fannie Mae and Freddie Mac launch the common Uniform MBS, unifying secondary market liquidity across both GSEs.
2019Fannie Mae
Treasury Agreement Permits Capital Retention
FHFA and US Treasury modify senior preferred purchase agreements, allowing Fannie Mae to retain quarterly earnings to build capital reserves.
2021Credit Suisse
The Dual Collapse of Archegos and Greensill Capital: In March 2021 Credit Suisse freezes about $10 billion of Greensill supply-chain finance funds and loses about $5.5 billion on the Archegos default.
2022Fannie Mae
Priscilla Almodovar Named Chief Executive Officer
Affordable housing finance veteran Priscilla Almodovar appointed CEO, driving mission-driven housing access and financial resilience.
2023Credit Suisse
Historic Emergency Takeover by UBS for CHF 3 Billion: After ~$133 billion (CHF 110.5 billion) of net asset outflows in Q4 2022 and the March 2023 bank panic, the Swiss government arranges UBS's ~$3.6…
2024Credit Suisse
Legal Entity Dissolved and Integrated into UBS AG: Credit Suisse AG is merged into UBS AG on May 31, 2024, ending its existence as a separate legal entity.
2025Fannie Mae
Guaranty Book Reaches $4.1T; Net Worth Nears $100B
Fannie Mae reports $28.50 billion in net revenue and $17.40 billion in net income, with retained net worth approaching $100 billion.
2026Credit Suisse
All Former Credit Suisse Clients Migrated to UBS: UBS completes the migration of Swiss-booked clients on March 18, 2026, finishing the transfer of about 1.2 million former Credit Suisse clients worldw…
Acquisitions
Credit Suisse
- Donaldson, Lufkin & Jenrette (DLJ)2000$11.5B
- Swiss Volksbank1993Undisclosed
- First Boston Corporation (CS First Boston)1988Undisclosed
- First Boston1988Undisclosed
Fannie Mae
No verified acquisitions are listed.
Questions about Credit Suisse vs Fannie Mae
Who is the CEO of Credit Suisse and Fannie Mae?
Credit Suisse is led by Ulrich Körner and Fannie Mae is led by Priscilla Almodovar. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Credit Suisse founded vs Fannie Mae?
Credit Suisse was founded in 1856 — 82 years before Fannie Mae, which was founded in 1938. Credit Suisse's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Fannie Mae.
How many employees does Credit Suisse have compared to Fannie Mae?
Credit Suisse employs approximately 50,480 people, while Fannie Mae employs approximately 7,400. Credit Suisse has the larger workforce at 50,480 employees, compared to Fannie Mae's 7,400. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Credit Suisse and Fannie Mae headquartered?
Credit Suisse is headquartered in Switzerland and Fannie Mae is headquartered in United States. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded Credit Suisse and Fannie Mae?
Credit Suisse was founded by Alfred Escher. Fannie Mae was founded by Franklin D. Roosevelt, 75th United States Congress.
Which company has a longer operating history — Credit Suisse or Fannie Mae?
Credit Suisse has been operating for approximately 170 years, making it the more established of the two companies. Fannie Mae has been in operation for around 88 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Credit Suisse vs Fannie Mae overview