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Credit Suisse First Boston

45 bytes added, 08:23, 28 July 2016
Text replace - "[[pricing]]" to "pricing"
| 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=[]}}
 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]] [[retire]]d retired in 2006.{{Infobox Midpage Need Sponsor}}
== History ==
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=|name=Credit Suisse Group||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=|name=This date in deal history: CSFB buys DLJ||date=April 24, 2008}}</ref>
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=|name=Credit Suisse First Boston Company Profile||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=|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 ==
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[[Category:Brokerage Firms]]