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. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Naughty 40 greet their new bosses

CSFB CEO John Mack's resurrection of the dormant role of head of fixed income has triggered a few high-profile departures from the division. But the bank is confident this is just a short-term issue, and its top executives have taken advantage of these departures to start pushing through changes to the organization that they hope will increase its deal flow. ? Antony Currie reports

JOHN WALSH HAD been making known his feelings about the recent reorganization above him at CSFB for some weeks before Jerry Wood finally went in to talk to him on the first Friday in April. It was never going to be a cosy chat. Walsh, the bank's head of global debt capital markets, was not happy, and what vexed him most was the appointment two months before of the man now standing before him. Wood, who had been hired by CSFB CEO John Mack from his old stomping ground at Morgan Stanley, is now co-head of CSFB's fixed-income division, and thus Walsh's boss.

But seniority counted for nothing here. As Wood was trying to talk to him about his recent abrasiveness, Walsh cut him off, told him they weren't going to have this conversation, and made it clear he wanted Wood to leave his office.

Tom Nides, CSFB's chief administrative officer, was soon on the phone, but Walsh had already made up his mind. After a heated exchange, according to insiders, Walsh told Nides he was resigning.

A senior CSFB fixed-income banker unhappy with who he's reporting to decides to quit? If it sounds eerily familiar, that's because it is.

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.


Unlimited access to and

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


Unlimited access to and, 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


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