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Credit Suisse’s First Boston spin-out bets boutique pay model will keep top dealmakers
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fnlondon.comCredit Suisse's investment bank is going back to the future. Its shift to a capital-light dealmaking unit will see the revival of the First Boston name, a brand the Swiss lender acquired as part of its push to become a global investment bank in 1990.
Spinning out a separate dealmaking unit is among the most radical moves by Credit Suisse as it embarks on a cost-cutting programme that will strip out $2.5bn in costs and cut 9,000 jobs over the next three years. While its investment bank is likely to bear the brunt of these cuts,...
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