Credit Suisse First Boston

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Credit Suisse First Boston (CSFB)
Founded 1988 - rebranded 2006
Key People Credit Suisse Group CEO Brady W. Dougan was CSFB's last CEO

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. Template:Infobox Midpage Need Sponsor


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.[1] 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 shares at three times book value.[2]


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.[3] 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,[4] and ended further SEC probes in 2003 at a cost of another $200 million.


  1. Credit Suisse Group.
  2. This date in deal history: CSFB buys DLJ.
  3. Credit Suisse First Boston Company Profile.
  4. SEC sues CSFB for IPO violations; CSFB will pay $100 million. Securities & Exchange Commission.