Credit Suisse has taken another step towards creating a standalone investment bank by buying Michael Klein's advisory boutique, but gave few clues on Thursday about potential investors who might back the business with new capital.
"This investor is still very interested, and there are several more we are in very close contact as we speak,'' he said without elaborating further.
Ethos CEO Vincent Kaufmann told Reuters the amount paid seemed very high given the little information provided so far and highlighted that the company was founded and managed by Klein, member of the board of directors of Credit Suisse until October 2022 and designated CEO of the buyer .Credit Suisse has been marketing CS First Boston to investors as a "super boutique". It sees revenue eventually more than doubling to as much as $3.
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