in the 2000s credit suisse executed a series of restructures. in 2002 the bank was consolidated into two entities: credit suisse first boston for investments and credit suisse financial services. a third unit was added in 2004 for insurance. credit suisse restructured again in 2004 under what it calls the "one bank" model. under the restructuring, every board had a mix of executives from all three divisions. it also changed the compensation and commission models to encourage cross-division referrals and created a "solution partners" group that functions between the investment and private banking divisions. following the restructure credit suisse's private banking division grew 19 percent per year despite the economic crisis. the firm bumped long-time rival ubs off the number one position in euromoney's private banking poll. in 2006, credit suisse acknowledged misconduct for helping iran and other countries hide transactions from us authorities and paid a $536 million settlement. the same year it merged bank leu ag, clariden holding ag, bank hofmann ag and bgp banca di gestione patrimoniale into a new company called clariden leu.