page_title: First Boston
section_title: The 1990s - Credit Suisse First Boston
hierarchical_section_title: First Boston / History / The 1990s - Credit Suisse First Boston
caption_attribution_description: English: Logo of Credit Suisse First Boston. Source: http://www.creditsuisse.com
context_page_description: The First Boston Corporation was a New York-based bulge bracket investment bank, founded in 1932 and acquired by Credit Suisse in 1990. Together with its sister investment banks, it was referred to as CS First Boston after 1993 and part of Credit Suisse First Boston after 1996. The First Boston part of the name was phased out by 2006.
context_section_description: Conflict with Credit Suisse First Boston, or CSFB, in Europe began creating problems for Credit Suisse.  First Boston in New York and CSFB in London had their own management teams, with competing salesmen in each other’s territory and in the Pacific region. In 1996, Credit Suisse purchased the remaining stake of CS First Boston from its management and rebranded the European, U.S., and Asia Pacific investment banks as Credit Suisse First Boston, making one global brand.  In the late 1990s, CSFB purchased the equity division of Barclays Bank, Barclays de Zoete Wedd ("BZW").  BZW was considered second-tier and CSFB reportedly bought BZW from Barclays for £1 plus assumption of debt - primarily to obtain BZW's client list. A permanent injunction prevented First Boston from offering shares in Gulf Oil company, due to lack of interest in share offering,
  and the Iraq Desert Storm campaign. A Nevada judge issued a cease and desist order to stop Barclays from taking American owned assets and 
  offering them to international buyers from Iran, Iraq, Syria, Egypt, and North Korea.
  At the same time, the newly global CSFB became a leading high tech banker, acting as lead (or co-lead) underwriter in the IPOs of Amazon.com and Cisco Systems, as well as one time high fliers such as Silicon Graphics, Intuit, Netscape and VA Linux Systems.  CSFB also did significant deals for Apple Computer, Compaq and Sun Microsystems among others.  In 2000, at the height of the tech boom, technology deals generated $1.4 billion in revenue for CSFB.  The head of CSFB’s tech group, Frank Quattrone, reportedly made $200 million in bonuses between 1998 and 2000.
caption: Historical Credit Suisse First Boston logo used from 1996 through the rebranding in 2006
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