From Breakingviews - If Credit Suisse loves its bankers, set them free
That could fund retention payments for managing directors in the bank’s strongest areas, like consumer staples and materials. Credit Suisse could also offer them private stock in a focused dealmaking unit, rather than the struggling mothership, so they eat more of what they kill, in Wall Street parlance.
eventually went public. That would leave Lehmann under pressure to float the carved-out unit, giving the bankers and external investors a way of turning their holdings into cash.Imagine, then, that Credit Suisse spins out its advisory and capital-markets business. Call it Second Boston. If the independent firm can grab a little more than 2% of total industry merger and underwriting fees, roughly what it does now according to Refinitiv data, it might have $3 billion of annual revenue.
That could give it a chunky value relative to Credit Suisse’s own market capitalisation. Rival Perella Weinberg
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