Back to the Future

The Revival of Credit Suisse First Boston

Long time readers will know that I have a soft spot for Credit Suisse. I joined the firm in 2000 when it was still called Credit Suisse First Boston and rose to become a managing director in 2005. At a glitzy offsite in Orlando, Florida, I was awarded a Tiffany-branded glass star with my name engraved on it – Tina Turner’s Simply the Best blasting from the loudspeakers as I walked across the stage. The glass star turned out to be one of the last of its kind issued by the bank. A few months later, the firm abandoned the name Credit Suisse First Boston that adorns my star and adopted the name Credit Suisse universally across all of its businesses. 

This week, Credit Suisse announced a radical restructuring of its investment banking division including the revival of the First Boston name inside a new, independent entity. As a tactic to fire up nostalgia among a certain cohort of former employees, it’s an exciting development. Whether it’s enough to revitalise the business is a harder chal…