Hints and tips:
...Michael Ebert, who ran Credit Suisse’s investment bank alongside Miller, was kept on and made sole head of the business as well as head of the Americas for UBS’s investment bank....
...Last year, chief executive Ulrich Körner announced a plan to cut 9,000 jobs and spin off much of its investment bank into a new entity called First Boston, run by former board member Michael Klein....
...Former Citigroup executive Michael Klein is set to combine his boutique advisory firm with Credit Suisse’s investment bank and is hunting for investors, after the Swiss lender entrusted the business to its...
...By summer 2022, Gottstein was gone and replaced by another former UBS executive — the phlegmatic Swiss-German Ulrich Körner....
...Michael Klein orchestrated a spinout of the investment banking business, negotiating not only a $175mn buyout of his own firm, but also a $10mn fee for his advice....
...Hiving off part of the investment bank as CS First Boston to insider and director Michael Klein suggests further conflicts of interest loom....
...Michael Ebert, who co-led Credit Suisse’s investment bank with Miller, has been made sole head of the business as well as head of the Americas for UBS’s investment bank....
...Additionally, a plan to spin off the advisory and capital markets operations with the First Boston brand under the leadership of Michael Klein will be reviewed and could be cancelled, according to a person...
...But Credit Suisse insiders insist that the decision to place Klein in the top job was made by CEO Ulrich Körner, a key architect behind the restructuring....
...He has joined the executive board and will report to group chief executive Ulrich Körner....
...He has joined the executive board and will report to Ulrich Körner, group chief executive....
...But dire results do not augur well for a spin-off which will inject parts of the unit into a rebooted CS First Boston led by Wall Street banker Michael Klein....
...“Credit Suisse regularly reviews its product and services portfolio to meet the evolving needs of our clients,” said Michael Strobaek, head of investment solutions and sustainability at the bank....
...Michael J. Rongetti will become interim head of asset management and Michael Bonacker was appointed group head of transformation....
...Lehmann and chief executive Ulrich Körner will address the audience and then invite questions from the floor, a process that is expected to take several hours as shareholders vent their frustration....
...Körner spent just eight months on the job....
...But its unsteady financial footing is threatening to unravel Körner’s efforts as wealthy clients continue to pull their money....
...“When Tefaf first came to New York in 2016, it was known as ‘the Dutch fair’, but people don’t think of it like that anymore,” says Will Korner, head of fairs....
...Credit Suisse said David Miller and Michael Ebert would run the investment bank, while the unit’s chief executive, Christian Meissner, would focus on its strategic transformation....
...Over the summer, Lehmann replaced Thomas Gottstein as chief executive with Ulrich Körner, who had previously run Credit Suisse’s asset management division....
...The deal came after Credit Suisse chief executive Ulrich Körner had been unable to draw a line under the bank’s crises during his eight-month tenure, with a restructuring plan that included spinning off...
...It has been a year since Axel Lehmann took over as chair of accident-prone Credit Suisse and about half that since Ulrich Körner became chief executive....
...It said director Michael Klein would leave the board to advise Korner on spinning out the CS First Boston business, which he would later lead as chief executive....
...The renowned banker Michael Klein has a new deal in his sights....
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