Credit Suisse has completed the acquisition of a majority holding in Citymax Integrated Information Systems. The 51% holding was acquired for an undisclosed sum from Credit Suisse Buckmaster & Moore, and the remaining shares are held by Citymax employees. Dr Hans Geiger, the general manager in charge of organisation and informatics and a member of the executive board of Credit Suisse, has been appointed a non-executive director on the Citymax board. The company emerged from the information technology department of Credit Suisse Buckmaster & Moore in 1986, after the latter bought 85% of Buckmaster and Moore. Its primary product is the Citymax Integrated Securities System which has been installed in a number of banks and stockbroking firms. The company now employs 200 staff, and reported a turnover of UKP5.8m in June 1989. That is forecast to rise to UKP8m in the current year. Citymax has previously said that it would be interested in establishing a subsidiary in France when the time is right (CI No 1,217), and says it believes that the international reputation of its Swiss bank parent will enhance its future expansion plans.
