The major Swiss bank is considering renaming its US investment banking to First Boston. That leads to speculation regarding a possible spin-off and sale.
In the course of the debate regarding the realignment of the investment bank, according to informed circles, Credit Suisse Group AG is considering reviving the First Boston brand, which was abandoned around 17 years ago.
According to Bloomberg, management is discussing, among other things, renaming the US investment banking business First Boston. A rebrand would fuel speculation that Credit Suisse might spin off or spin off its investment banking unit. However, people familiar with the considerations said there were no immediate plans for the division to break away.
A Credit Suisse spokesman referred to the bank’s announcement that it would provide information on the progress made in reviewing the group’s strategy as part of the third-quarter figures. It would be premature to comment on possible results beforehand.
At a conference of global top management earlier this month, board members Michael Klein and Blythe Masters floated the idea of having senior investment bankers co-own their division. It remained unclear whether this would involve a full spin-off of the division. (aa)
