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Paradeplatz

Altstadt (Zürich)Financial districtsSquares in Zürich
Zürich Paradeplatz
Zürich Paradeplatz

Paradeplatz is a square on Bahnhofstrasse in downtown Zürich, Switzerland. It is one of the most expensive pieces of real estate in Switzerland and has become synonymous with wealth and the Swiss banks, being the location of the headquarters of both UBS and Credit Suisse. It is surrounded by four blocks of buildings. The site of the square lay without the medieval city walls, and was incorporated into the town with the construction of the new ramparts in 1642. During the 17th century, it served as a livestock market, known as Säumärt ("pig market"), renamed to Neumarkt ("new market") in 1819 and finally to its current name following the construction of Bahnhofstrasse (1865).Paradeplatz is one of the main nodal points of the Zürich tram network, and the stop is served by lines 2, 6, 7, 8, 9, 11, 13 and 17. Paradeplatz was the scene of clashes between insurgents and cantonal troops during the 1839 Züriputsch. The first horse-drawn trams circulated in 1882 and were electrified in 1896.

Excerpt from the Wikipedia article Paradeplatz (License: CC BY-SA 3.0, Authors, Images).

Paradeplatz
Zurich Altstadt

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Geographical coordinates (GPS)

Latitude Longitude
N 47.3697 ° E 8.5389 °
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11
8001 Zurich, Altstadt
Zurich, Switzerland
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Zürich Paradeplatz
Zürich Paradeplatz
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Credit Suisse
Credit Suisse

Credit Suisse Group AG (French pronunciation: ​[kʁe.di sɥis], lit. 'Swiss Credit') is a global investment bank and financial services firm founded and based in Switzerland. Headquartered in Zürich, it maintains offices in all major financial centers around the world and provides services in investment banking, private banking, asset management, and shared services. It is known for strict bank–client confidentiality and banking secrecy. The Financial Stability Board considers it to be a global systemically important bank. Credit Suisse is also a primary dealer and Forex counterparty of the Federal Reserve in the United States. Credit Suisse was founded in 1856 to fund the development of Switzerland's rail system. It issued loans that helped create Switzerland's electrical grid and the European rail system. In the 1900s, it began shifting to retail banking in response to the elevation of the middle class and competition from fellow Swiss banks UBS and Julius Bär. Credit Suisse partnered with First Boston in 1978 before buying a controlling share of the bank in 1988. From 1990 to 2000, the company purchased institutions such as Winterthur Group, Swiss Volksbank, Swiss American Securities Inc. (SASI), and Bank Leu. The biggest institutional shareholders of Credit Suisse include the Saudi National Bank (9.88%), the Qatar Investment Authority and BlackRock (about 5% each), Dodge & Cox, Norges Bank and the Saudi Olayan Group.The company was one of the least affected banks during the global financial crisis, but afterwards began shrinking its investment business, executing layoffs and cutting costs. The bank was at the center of multiple international investigations for tax avoidance which culminated in a guilty plea and the forfeiture of US$2.6 billion in fines from 2008 to 2012. By the end of 2022, Credit Suisse had approximately CHF 1.3 trillion in assets under management.On 19 March 2023, following negotiations with the Swiss government, UBS announced its intent to acquire Credit Suisse for $3.25 billion (CHF 3 billion) in order to prevent the bank's collapse. While the deal undergoes review, Credit Suisse remains operational.

Bahnhofstrasse
Bahnhofstrasse

Bahnhofstrasse is Zürich's main downtown street and one of the world's most expensive and exclusive shopping avenues. In 2011, a study named the Bahnhofstrasse the most expensive street for retail property in Europe, and the third most expensive worldwide. In 2016, the street ranked ninth. It came into existence when the city fortifications were demolished in 1864 and the ditch in front of the walls was filled in. Until that time, the name of the location had been Fröschengraben ("Ditch Of The Frogs"), which then was changed to Bahnhofstrasse ("Railway Station Street"). Bahnhofstrasse starts at Bahnhofplatz ("Station Square") in front of the Zürich Hauptbahnhof (47°22′40″N 8°32′25″E), passing Rennweg, Augustinergasse and Paradeplatz before it ends after 1.4 km at Bürkliplatz (47.3671°N 8.5409°E / 47.3671; 8.5409 (Bürkliplatz)) on Lake Zürich (National Bank), (Hotel Baur au Lac). The street is largely pedestrianised, but is also an important link in the Zürich tram network. North of Paradeplatz the street carries routes 6, 7, 11 and 13, whilst to the south it carries 2, 8, 9 and 11. Stops are served at Hauptbahnhof, Rennweg, Paradeplatz, Börsenstrasse and Bürkliplatz. Some of the many shops include: Ambassadour House Apple Store Blancpain Breguet Burberry Bvlgari Cartier Chanel Dior Ermenegildo Zegna Franz Carl Weber Giorgio Armani Globus Gucci Hackett London Hermès H&M Jelmoli Louis Vuitton Mont Blanc Prada Salvatore Ferragamo Tiffany and Co. Tissot Tommy Hilfiger Trois Pommes Vacheron Constantin Victorinox ZaraParadeplatz, one of the most famous squares in Switzerland, is situated towards the end of the Bahnhofstrasse closest to Lake Zürich. The two biggest Swiss banks, UBS and the Credit Suisse Group, have their headquarters there. Paradeplatz is also known for its chocolate shop and cafe, Confiserie Sprüngli.