Changes

Jump to: navigation, search

Credit Suisse First Boston

46 bytes added, 08:23, 28 July 2016
Text replace - "[[pricing]]" to "pricing"
{{Random_adbox}}
{{Infobox_Company
| company_name = Credit Suisse First Boston (CSFB)
| company_logo = [[Image:Credit-Suisselogo.jpg{{!}}125px]]
| key_people = Credit Suisse Group CEO Brady W. Dougan was CSFB's last CEO
| foundation = 1988 - rebranded 2006 | homepage=[http://www.csfb.com www.csfb.com]}}
Credit Suisse First Boston (CSFB) was a high-flying tech-boom [[brokerage]] and financer in the late 1990s that was brought low some years later by a federal investigation into its [[initial public offering]] (IPO) practices. The CSFB business was eventually folded into [[Credit Suisse Investment Banking]] (CSIB) and its brand retired in 2006.
Credit Suisse First Boston (== History ==CSFB) was had its roots in a highco-flying techoperation agreement between Zurich-boom based [[brokerageretail]] [[bank]] [[Credit Suisse]] and Boston-based [[financersecurities]] in the late 1990s that was [[broughtbroker]] low some years later by a federal investigation into its [[initial public offeringFirst Boston Corporation]] (IPO) practicesforged in 1978.<ref>{{cite web|url=http://www.workazoo.com/Employers/ViewWiki.aspx?cid=30|name=Credit Suisse Group|org=Workazoo.com|date=April 24, 2008}}</ref> CS gained a controlling stake in FB a decade later and renamed the new brokerage Credit Suisse FB. The CSFB business was eventually folded into prospered during the 1990s Internet boom and in mid-2000 paid a staggering $11.5 billion for rival brokerage [[Credit Suisse Investment BankingDonaldson Lufkin & Jenrette]] (CSIBDLJ) and its , pricing DLJ [[brandshare]] s at three times [[retirebook value]]d in 2006.<ref>{{Infobox Midpage Need Sponsorcite web|url=http://www.thedeal.com/dealscape/2006/08/this_date_in_deal_history_csfb.php|name=This date in deal history: CSFB buys DLJ|org=TheDeal.com|date=April 24, 2008}}</ref>
== Rise ==
CSFB had its roots in a co-operation agreement between Zurich-based [[retail]] [[bank]] [[Credit Suisse]] and Boston-based [[securities]] [[broker]] [[First Boston Corporation]] forged in 1978.<ref>{{cite web|url=http://www.workazoo.com/Employers/ViewWiki.aspx?cid=30|name=Credit Suisse Group|org=Workazoo.com|date=April 24, 2008}}</ref> CS gained a controlling stake in FB a decade later and renamed the new brokerage Credit Suisse FB. CSFB prospered during the 1990s Internet boom and in mid-2000 paid a staggering $11.5 billion for rival brokerage [[Donaldson Lufkin & Jenrette]] (DLJ), [[pricing]] DLJ [[share]]s at three times [[book value]].<ref>{{cite web|url=http://www.thedeal.com/dealscape/2006/08/this_date_in_deal_history_csfb.php|name=This date in deal history: CSFB buys DLJ|org=TheDeal.com|date=April 24, 2008}}</ref>
 
 
== Fall ==
CSFB's problems began soon after, in early 2001, when lead technology [[banker]] [[Frank Quattrone]] became the subject of a federal investigation into the way CSFB allocated IPO shares.<ref>{{cite web|url=http://www.lawyershop.com/news/practice-areas/criminal-law/white-collar-crimes/securities-fraud/lawsuits/credit-suisse/|name=Credit Suisse First Boston Company Profile|org=LawyerShop.com|date=April 24, 2008}}</ref> In January 2002 CSFB settled with the [[U.S. Securities and Exchange Commission]] (SEC) for $100 million over complaints brought by the SEC stemming from the probe,<ref>{{cite web|url=http://www.sec.gov/litigation/litreleases/lr17327.htm|name=SEC sues CSFB for IPO violations; CSFB will pay $100 million|org=Securities & Exchange Commission|date=April 24, 2008}}</ref> and ended further SEC probes in 2003 at a [[cost]] of another $200 million.
== References ==
<references />
 
 
[[Category:Brokerage Firms]]