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The First Boston Corporation was a New York?based bulge bracket investment bank, founded in 1932 and acquired by Credit Suisse in 1988. After the acquisition, it operated as an independent investment bank known as CS First Boston until 2006, when the company was fully integrated into Credit Suisse.
2019 and early 2020: Credit Suisse faces a spying scandal regarding an outgoing wealth management executive; then-CEO Tidjane Thiam resigns. 2021: Archegos Capital and Greensill Capital collapse, leading to $1 billion in losses for Credit Suisse and another management shake-up.
Zurich, 12 June 2023 ? UBS has completed the acquisition of Credit Suisse today, crossing an important milestone.
In addition, Michael Klein has been appointed Chief Executive Officer (CEO) of Banking and CEO of the Americas, as well as designated CEO of CS First Boston. He will join the Executive Board and report directly to Group CEO Ulrich Korner.
In 2006, Credit Suisse reorganized and merged CS First Boston into the parent company and retired use of the "First Boston" brand. In 2022 as part of a major restructuring, Credit Suisse began the process of spinning out the investment bank into an independent company and revived the brand.