Credit Suisse First Boston’s acquisition of BZW’s equities and corporate advisory divisions at the start of the year was a quite coup for the Swiss bank (and cheap at twice the price the bank paid £100 million). At a stroke, the Swiss bank had suddenly become one of the top equity brokers in the UK, ranking second so far, up from 15th last year.
An internal list shows that of 30 major UK equity deals either completed or pending this year, only one has come from CSFB’s client relationships, and that was simply to act as adviser and offer support in the equity market, and the client was Swiss Ciba Specialty Chemicals.
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