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Credit Suisse's 1st boston plan in doubt as Swiss lender nears forced sale

Klein and others had already been talking to interested parties as they sought to line up investors for the business

Credit Suisse
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Photo: Bloomberg

Bloomberg
By Marion Halftermeyer, Katherine Griffiths, Steven Arons and Dinesh Nair

Michael Klein, the CEO-designate of Credit Suisse Group AG’s investment-banking spin off, may struggle to realize his dream of building a new CS First Boston as the Swiss lender nears a forced sale to UBS Group AG.

UBS is showing little appetite for Credit Suisse’s investment banking business as part of a government-brokered takeover, putting plans to legally and operationally separate and eventually list that business in doubt.

Klein and others had already been talking to interested parties as they sought to line up investors for the business. The last few days may

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First Published: Mar 19 2023 | 4:47 PM IST

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