What will happen to CSFB/ Credit Suisse?
“What about CS First Boston? UBS CEO Ralph Hamers declined to comment on whether Michael Klein's plan for spinning out a "super boutique" is still viable. However, reading between the lines of statements made by UBS today, it sounds like something is taking shape in the shadows. UBS says it sees the acquisition of Credit Suisse's investment bank as fulfilling some of its strategic goals. In particular, Credit Suisse brings a suite of investment bankers in the US and in technology, where UBS says it planned to expand anyway. "On the global banking side, we see value in the combined entity," declared Hamers today. "They provide some capabilities that are supportive to us." The implication is that Michael Klein and Credit Suisse's US bankers will be incorporated into UBS. Credit Suisse's European bankers may not be.”
This was in an article, is this just a PR thing or is there a chance this is what it could look like?
no one knows
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