LGBT Employees at Credit Suisse Benefit from Enhanced Offerings

Credit Suisse during its open enrollment benefits period was pleased to offer enhanced benefits to employees with domestic partners and their families in the United States.  The Bank’s new benefits are the result of a collaborative effort between Human Resources and the Credit Suisse Americas LGBT Open Employee Network to expand and improve coverage for its employees.

Credit Suisse is one of the few financial services firms to publicly disclose such offerings.  The enhancements are a significant development, especially for Credit Suisse’s LGBT employees as they mirror the favorable tax treatment — provided to opposite-sex married employees and their dependents under federal law — that is not available to same-sex marriages.

The revised benefits package, effective January 1, 2011, includes:

• Enhanced health and welfare benefits for same-sex and opposite-sex domestic partners and their dependents to equalize the tax treatment related to the cost of benefits not available to them under federal law.
• New transgender benefits including sex-reassignment surgery and related prescription drug treatment will be covered under the medical plan.

“I am pleased that Credit Suisse has been among the first in the financial services area to ensure that its employees are treated equally in connection with these two important employee health benefit issues,” says Anthony DeChellis, Head of Credit Suisse Private Banking Americas and Executive Sponsor of the LGBT Open Network.  “I’m equally as delighted about Credit Suisse’s long track record as a supporter of its LGBT employees and advocate for equality that has been recognized consistently by such important organizations as the Human Rights Campaign.”

Credit Suisse believes that in order to achieve its business goals it must support the recognition, strengthening and leveraging of a healthy workforce with diverse perspectives and talents.  These efforts have recently been recognized with a number of prominent diversity awards, including:

• The Human Rights Campaign (HRC) “2011 Corporate Equality Award” for our efforts in promoting LGBT issues in the workplace.  This award will be presented to Credit Suisse in February, 2011.  HRC has previously honored Credit Suisse with the prestigious “2010 Innovation Award” for its first-of its-kind LGBT MBA recruiting program, “Open Perspectives.”  Additionally, every year since 2004, Credit Suisse has received 100% on the “HRC Corporate Equality Index” (CEI). The CEI provides major US businesses with a roadmap for establishing and maintaining inclusive workplaces for lesbian, gay, bisexual and transgender employees.
• Inclusion on the “100 Best Companies” list published by Working Mother Media for its family-friendly benefits and programs that enable employees to successfully integrate home and work.
• Numerous national awards in 2010, such as the “Top 50 Companies for Diverse Managers to Work” by DiversityMBA Magazine; The Cradle Foundation’s “Silver Cradle Award” for our outstanding adoption-related benefits, programs and resources; and the Alliance for Workplace Excellence’s “Health & Wellness Trailblazers Award” for our innovative programs for employee health and wellness.

The improvements to Credit Suisse’s benefits package demonstrate the Bank’s commitment to responding to the needs of our employees.

About the Credit Suisse Americas LGBT Open Network

The mission and vision of the Americas LGBT Open Network is to support a diverse, inclusive, and open environment that enables lesbian, gay, bisexual, and transgender (LGBT) professionals to maximize their professional growth and contribution to the Bank’s success. The network also partners with lines of business to create new client opportunities and to advance Credit Suisse’s diversity and inclusion strategy.

Credit Suisse AG

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 50,500 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

SOURCE Credit Suisse AG