Credit Suisse has established a new IT development center at the Ecole Polytechnique Federale de Lausanne (Swiss Federal Institute of Technology Lausanne, EPFL), where representatives of the bank's scientific research and industry will develop solutions to meet the demanding expectations of its clients and commercial partners.

The newly created IT development center is expected to create up to 250 jobs by the end of 2011, and will be managed by Hans Martin Graf.

Karl Landert, member of the executive board and chief information officer at Credit Suisse, said: “I am convinced that our IT Development Center at the EPFL, which is integrated into the scientific environment of the institute’s School of Computer and Communication Sciences (IC), will become a platform for creativity.”

Adrienne Corboud Fumagalli, vice-president for innovation and technology transfer at the EPFL, said: “The arrival of Credit Suisse at Innovation Square is a unique opportunity to bring together the worlds of banking and scientific research. The EPFL has developed numerous areas of expertise in the financial sector, not only in terms of IT infrastructure but also with its innovative financial engineering program and its training facilities for mathematicians.”