Best underwriter of IPOs
Credit Suisse First Boston
With technology stocks continuing to flood to the markets, Credit Suisse First Boston remains very handily placed to take best advantage. For the last three years CSFB has put great effort into establishing its reputation in the technology sector. The high profile arrival of Frank Quattrone from Deutsche Bank has lent investment banking depth to strong secondary equity teams hired from UBS and added to the former BZW equity team acquired in 1998.
Charles Kirwan-Taylor, co-head of European equity capital markets, says the focus on technology has been rewarded by the upsurge in technology IPOs. "We have been a tremendous beneficiary of the overall capital requirement of the technology sector," he says. "Not only is the volume in the market place increasing year-on-year at an accelerated rate, but the number of for which we are working is increasing even faster than the absolute volume would tell you."
However, while Morgan Stanley and Goldman Sachs suffered setbacks with the lastminute.com and World Online flotations, CSFB has enjoyed a year of strong progress throughout the world's markets.
Kirwan-Taylor says the team's in-depth experience has been the big factor in this.