CSFB Chief Dougan Names Brian Finn President
Brady Dougan, who took the reins of Credit Suisse Group's investment banking unit after the unexpected ouster of Wall Street veteran John Mack, wasted little time in putting his own stamp on the unit.
In his first official act as chief executive of CSFB, he is appointing Brian Finn as president and Neil Moskowitz as chief financial officer of the U.S. unit, a CSFB spokeswoman said. Finn shared the title of co-head of institutional securities at CSFB with Dougan prior to the latter's elevation. Moskowitz was chief operating officer of the unit, which includes CSFB's equity and fixed-income businesses.
Dougan, who joined CSFB in 1990 and took the CEO spot this week, may be acting as much out of necessity as pride in an effort to staunch an exodus of Mack loyalists. In the three weeks since Credit Suisse refused to renew Mack's contract as head of CSFB and co-chief executive of the bank, CSFB's chief financial officer Barbara Yastine and chief administrative officer Thomas Nides - both of whom were hired by Mack - resigned. Speculation also was rampant that Finn would leave.
Finn did not return calls for comment.
In another change, Credit Suisse Group's chief risk officer and former CFO, Richard Thornburgh, will assume a new title as vice chairman of CSFB's executive board. Thornburgh, who also is chairman of the Securities Industry Association trade group, will oversee the company's asset-management unit and its small private client services group, as well as its credit, risk management, human resources and corporate services areas.
Several bankers in the firm's private equity and investment banking units also have left in recent weeks, although some said their plans were not influenced by the changes at the top.
The new appointments will be announced in a memo to CSFB employees on Wednesday that also will stress continuity by noting that the heads of several major business and administrative units will remain and report to either Dougan or Finn.
Mack, who Credit Suisse lured from Morgan Stanley in 2001 to reduce lavish employment costs and iron out scandals involving former star tech banker Frank Quattrone, reportedly ran into opposition from the Swiss bank's board over plans to sell all or part of the company.
Dougan had been transferred by Mack last March to London to head CSFB's European businesses. Some people said Mack was trying to isolate him but that the move backfired as Dougan won the confidence of Mack's co-CEO Oswald Grubel, who now has sole possession of the title at the parent bank
CSFB尽力挽留麦晋桁的老部下
瑞士信贷集团(Credit Suisse Group)旗下美国投资银行子公司首席执行长布莱迪?杜根(Brady Dougan)上任伊始就开始对这家子公司施加自身的影响，此前，华尔街资深人士麦晋桁(John Mack)出人意料地被赶下该公司的帅位。
瑞士信贷第一波士顿(CSFB)一位发言人称，杜根在就职后第一次采取的正式行动中，就任命布莱恩?芬恩(Brian Finn)担任公司总裁，任命奈尔?莫斯科维茨(Neil Moskowitz)担任首席财务长。芬恩曾和杜根共同执掌瑞士信贷第一波士顿的机构证券子公司，而莫斯科维茨则担任该公司股票及固定收益业务的首席运营长。
杜根是1990年加入瑞士信贷第一波士顿的，他此举既是出于需要，也是为了面子，目的是制止忠于麦晋桁的人纷纷离开公司的现象。自瑞士信贷集团拒绝和麦晋桁续签让他担任该投资银行联席首席执行长的合同以来的3周内，该银行的首席财务长芭芭拉?亚斯汀(Barbara Yastine)和首席行政主管托马斯?奈德斯(Thomas Nides)均已辞职，这两人都是麦晋桁雇佣的。有关芬恩也将离开的猜测很多。
芬恩没有回复记者要求置评的电话。
麦晋桁2001年离开了摩根士丹利(Morgan Stanley)，加入瑞士信贷第一波士顿，其任务是帮助该公司削减毫无节制的雇佣成本，并消除涉及原明星科技股银行家富兰克?夸特罗内(Frank Quattrone)的丑闻带来的影响。据报导，他提出的出售该公司全部或部分资产的计划遭到这家瑞士银行董事会的反对。
