Credit Suisse (Switzerland) Ltd has been incorporated to be organised 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 at evolving the structure of the Credit Suisse Group to meet the 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. It co-ordinated and streamlined the advice of 30 international law firms in connection with this and the requirements for the re-registration of 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).