It was hardly a resounding vote of confidence in his decision, but then Joe Roby probably had not expected it to be. There were no cheers, no congratulations, in fact there was very little response at all as Donaldson, Lufkin&Jenrette’s chief executive officially informed his staff on August 30 of the sale of the bank to a rival, Credit Suisse First Boston. Some, of course, already knew. Senior managers had been told of the probability of the deal two weeks beforehand.
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