Credit Suisse and ACCION to Sponsor “Microfinance Cracking the Capital Markets III” Conference Bankers, Scholars and Investors Explore Microfinance as Evolving Asset Class in Industry’s Premier Annual Gathering, March 10-11 in New York
Boston, February 28, 2008—ACCION® International, a pioneer and leader in microfinance, and Credit Suisse, the global financial services group, today announced that they will jointly sponsor ACCION’s third annual investor conference on microfinance, March 10-11 at Credit Suisse’s headquarters, One Madison Avenue, New York City.‘Microfinance Cracking the Capital Markets III’ will draw together hundreds of institutional and private investors, hedge fund and private equity firms, microfinance investment funds, venture capitalists, leading microfinance institutions, investment bankers and rating agencies to discuss new developments in the financing of microfinance.Credit Suisse is active in microfinance initiatives across its business divisions and in emerging markets across the globe. Vikram Gandhi, head of Credit Suisse’s Global Financial Institutions Group, said, “Over this past year, we have definitely seen a broadening of the traditional microfinance institution investor base. In our conversations with investors, ranging from individuals to mutual funds, pension funds to private equity, it is clear that they understand the business model and are looking to participate in its growth. The increasing flow of private capital is further proof that the old adage ‘doing well by doing good’ most definitely applies to microfinance today.”Panel topics will include an overview of new ventures and financings (including syndications, private equity, convertible debt and IPOs); the effects of the global liquidity crunch; whether or not microfinance performance correlates with other emerging market investment; new investment funds for housing, health, and technology to improve living standards of microfinance clients; and microfinance on the Internet.Diana Taylor, former New York State Superintendent of Banks, will deliver the keynote. Other featured speakers and panelists include senior executives from The World Bank, Deutsche Bank, Wachovia Securities, Blue Orchard Finance, Prosper.com and a host of microfinance investment funds, as well as professors from ColumbiaBusinessSchool and NYU. “ACCION is delighted to continue in partnership with Credit Suisse to make ‘Cracking’ the premier annual event for those interested in microfinance development and financing,” said María Otero, president and CEO of ACCION. “We look forward to once again bringing the most innovative microfinance practitioners, financiers and scholars together to explore how to effectively build inclusive financial systems worldwide.”Additional conference information, the full program and registration is available at www.crackingthecapitalmarkets.com.About ACCION InternationalACCION International is a private, nonprofit organization with the mission of giving people the financial tools they need – microenterprise loans, business training and other financial services – to work their way out of poverty. A world pioneer in microfinance, ACCION was founded in 1961 and issued its first microloan in 1973 in Brazil. ACCION International’s partner microfinance institutions today are providing loans as low as $100 to poor men and women entrepreneurs in 25 countries in Latin America, Asia, Africa and the United States. In the last decade alone, ACCION partners have disbursed more than 17.9 million loans totaling more than $12.3 billion; 97 percent of the loans have been repaid. Selected for the fifth consecutive year for its pioneering approaches to poverty alleviation, ACCION was among 45 organizations awarded the 2008 Social Capitalist Award by Fast Company Magazine/Monitor Group. ACCION has also been awarded Charity Navigator’s highest rating – four stars – for efficiency and sound fiscal management. For more information, visit www.accion.org.About Credit SuisseAs one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 48,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) 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.ACCION® is a registered trademark of ACCION International.
Bruce MacDonaldVP, CommunicationsACCION International617firstname.lastname@example.org
Duncan KingCorporate CommunicationsCredit Suisse212email@example.com