Sauber buoyed by new sponsor.

Team boss Peter Sauber claims that the arrival of Credit Suisse in the Hinwil camp can only serve to strengthen its determination and resolve.

"Formula One gets harder every year - there is no doubt about that," Sauber said at his team's official 2001 launch today [Wednesday], "The new partnership with an internationally-renowned back like Credit Suisse is going to strengthen our position in this highly competitive environment, and our motivated team is already looking forward to the start of the new season."

With more than 300million spectators estimated to watch each grand prix, the sport could do wonders to support the growth strategy envisaged by bank chiefs when deciding to back the team this year. Synonymous with high technology, innovation, drive, tension and highly charged emotions, it is hoped that the 17 races this year will also offer an exciting experience for all Credit Suisse customers.

For more than 20 years, sponsorship has enjoyed a prominent place in the Credit Suisse corporate and communication strategy, and the bank sees its commitments as a partnership that benefits and contributes to the success of both parties. Concentrating on selected events both in Switzerland and abroad, the company has so far been involved in ski-ing, football, equestrian and golf, as well the fine arts, fashion, design and various kinds of music, but the association with Sauber is its first venture into Formula One, or motorsport of any kind.

The decision to join one of the world's biggest sporting circuses stems from the companies desire to strengthen the awareness of the Credit Suisse brand as it attempts to expand its portfolio management business into Europe and Asia. Seeing F1 as an excellent medium through which to promote itself, the banking group decided to seek out a team that was not only 'dynamic and competitive', but also 'whose integrity guaranteed a good reputation' with its target audience, both at home and abroad. The result is a three-year deal with Peter Sauber's growing operation.

Credit Suisse joins a raft of existing sponsors at Sauber, headed up by principal backers Red Bull and Petronas, and results in a swathe of white across the nose and front wing of the new C20. The company name also appears on the rear wing of the new car.