Credit Suisse is considering re-naming its US investment banking division First Boston. This is reported by the news portal Bloomberg, citing internal bank sources. It is questionable whether there are further plans associated with the rebranding.
After the major Swiss bank took over the US investment bank First Boston in the 1990s, this arm of Credit Suisse initially operated under the name “Credit Suisse First Boston”. In 2006, the suffix “First Boston” was dropped. According to Bloomberg, many long-time employees of the bank would still identify with “First Boston”. The name stood for excellence and talent. “First Boston was the queen of acquisitions and takeovers”.
If the US investment banking division is actually renamed, this might fuel speculation that Credit Suisse is now planning to divest the investment banking division following the previous downsizing, according to Bloomberg.
The bank itself is currently undergoing a strategic review and will not comment until the figures for the third quarter are published.
