The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Awards

Awards for excellence - Credit Suisse First Boston

The world’s most improved debt house

Full results

Credit Suisse First Boston continually astounds onlookers with its innate ability to assemble the right ingredients, fail to mix them together properly and yet still be able to salvage something from the result.


CSFB's debt businesses ought to be in disarray given the past 18 months' upheaval. In early 2000 the bank folded the elephant-hitting, kill-what-you-eat culture of Credit Suisse Financial Products into the more relationship-oriented CSFB. Then its asset-backed team decamped en masse to Deutsche Bank, forcing a rebuild from scratch.


At the end of August, CSFB bought DLJ, partly for its leveraged finance prowess. Within a month the team came very close to leaving for HSBC.


To cap it all, in February more than 40 high-grade bankers, many of them senior managers including Jack DiMaio and John Walsh, accepted offers to join Barclays Capital. They were unhappy at having Stephen Hester as boss - he was appointed last summer, having been CFO beforehand. But CEO Allen Wheat, promising a change in structure as well as a change in pay, persuaded them to stay.




You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree