The investment banking unit will be more focused than larger rivals, and more broad-based than advisory firms.
According to «Reuters», a marketing presentation shows Credit Suisse is betting on aggressive growth for CS First Boston (CSFB) and will try to thread the needle between larger institutions and advisory firms.
In the January presentation to investors, the bank says it aims to exceed the $2.5 billion net revenue target set for the unit as recently as October 2022. It takes into account that the business will be independent and assumes a normalized market environment, according to the statement.
Strategy Details
According to Reuters, the bank also details how it will justify the competitive advantage of the restructured division in a highly competitive investment banking market. CSFB will be a «super boutique,» more focused than big banks but more broadly based than advisory firms that don't offer services such as financing, it said.
The crisis-hit bank is aiming for a CSFB IPO in 2024 or 2025, the statement added. Credit Suisse declined to comment.
