Credit Suisse First Boston
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Credit Suisse First Boston (CSFB) is a bulge bracket New York City based investment banking and financial services firm. It is a division of the Credit Suisse NYSE: [CSR]
The firm caters for three different categories of clients: institutional, investment banking, and investment management clients.
The institutional clients are served by the following divisions of the bank: CSFB HOLT, Equities, Fixed Income, Life Finance, Prime Services, and Research. The investment banking clients have access to : Mergers & Acquisitions, Equity Capital Markets, Debt Capital Markets, Private Placement, Leveraged Finance, Industry Experience, and Regional Presence divisions.
The investment management clients side of the bank are looked after by the following branches of the bank: Alternative Capital, Asset Management, CSFB VOLARIS, and Private Client services.
Overview
Credit Suisse First Boston (CSFB) is a leading global investment bank serving institutional, corporate, government and high net worth clients. CSFB's businesses include securities underwriting, sales and trading, investment banking, private equity, alternative assets, financial advisory services, investment research, and asset management.CSFB is a global institution. It operates in more than 69 locations across more than 33 countries on five continents. With a strong local presence, global vision and a noted ability to execute transactions in and across all markets, CSFB deploys its capital base and global perspective to offer a full range of products, services and capabilities.
The Firm is a business unit of Zurich-based Credit Suisse Group, a leading global financial services company. In addition to the business unit Credit Suisse First Boston, Credit Suisse Group also includes the Credit Suisse Financial Services business unit, which provides private clients and small and medium-sized companies with private banking and financial advisory services, banking products, and pension and insurance solutions from Winterthur.
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Structure
Credit Suisse First Boston is a part of The Credit Suisse Group, which is comprised of three business units: Credit Suisse, Credit Suisse First Boston, and Winterthur.The Credit Suisse business unit is a leading provider of comprehensive financial services in Europe and other selected markets. Credit Suisse offers investment products, private banking and financial advisory services for private and corporate clients.
Credit Suisse First Boston
Credit Suisse First Boston is a proven leader across the spectrum of investment banking, capital markets and financial services, ranking in the top tier in virtually all major business segments. Credit Suisse First Boston's organizational structure focuses on providing the highest quality of client-centric services.
- Institutional Securities - Securities serves the broad needs of institutional clients with expertise in Equities, Fixed Income, Prime Services and Research. Investment Banking serves corporate clients' needs through Mergers and Acquisitions, Equity Capital Markets, Debt Capital Markets, Private Placements and Leveraged Finance services.
History
- 1856 - Credit Suisse founded
- 1905 - First branch (in Basel)
- 1940 - First branch outside Switzerland (in New York)
- 1978 - Start of co-operation with The First Boston Corporation
- 1988 - Controlling stake in The First Boston Corporation
- 1989 - CS Holding became parent company of the Group
- 1990 - Acquisition of Bank Leu
- 1993 - Acquisition of Swiss Volksbank
- 1994 - Strategic alliance with Swiss Re
- 1995 - Strategic alliance with Winterthur Group
- 1996 - CS Holding becomes Credit Suisse Group
- 1997 - Merger with Winterthur Group
- 2000 - Acquisition of Donaldson, Lufkin & Jenrette (DLJ)
- 2002 - Streamlining of the Group's organizational structure into two business units: Credit Suisse Financial Services and Credit Suisse First Boston
- John Mack - slashes 10,000 jobs
- 2004 - Focussing the Group's organizational structure on three business units:Credit Suisse, Credit Suisse First Boston and Winterthur
- 2006 - CSFB's name drops the "First Boston" part of its name
Mergers & Acquisitions
CSFB USA is a wholly owned subsidiary of Credit Suisse First Boston Inc., which is, in turn, a wholly owned subsidiary of CS. CS is a wholly owned subsidiary of CSG. CSFB USA was created through the merger with DLJ, which was closed on Nov. 3, 2000. CSFB LLC, CSFB's principal U.S. registered broker-dealer subsidiary, became a subsidiary of DLJ, and DLJ changed its name to CSFB USA.Prior to the DLJ Merger, the Credit Suisse Group (CS) purchased First Boston in 1988 creating CS First Boston. The Firms bulge bracket status came after the merger with Donaldson, Lufkin, & Jenrette (DLJ).
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Quick facts
- Frank Quattrone, was poached from Deutsche Bank and helped CSFB jump to the top of the tech and Internet advisory league tables in the late 90's.
- CSFB was ranked #2 in the total volume of high-yield bond issuance and #1 in high-yield transactions in 2004, it also held the #3 position in global IPO underwriting in 2004.
- CSFB was awarded the Best Foreign Investment Bank in Indonesia in 2005.
- Credit Suisse First Boston (CSFB) and Morgan Stanley were principal underwriters of the 2004 Google IPO.
- First Boston along with Salomon Brothers were the original creators of the collateralized mortgage obligation, it was invented in June 1983. Along with junk bonds, the CMO is considered one of the most important financial innovation of the 1980s.
- Winterthur was divested to AXA, the French insurance company for approximately $10B on July 14th, 2006.
Competitors
Diversity
Credit Suisse First Boston LLC was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mother magazine.References
External links
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