Nevada Opinion of CS First Boston Corporation

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In addition, Michael Klein has been appointed Chief Executive Officer (CEO) of Banking and CEO of the Americas, as well as designated CEO of CS First Boston.

As part of the overhaul announced in October, it is seeking to spin off merger advice and leveraged finance into a new entity named Credit Suisse First Boston (CSFB), for which it has been seeking buyers.

Swiss bank UBS on Monday said that it formally completed the takeover of its rival Credit Suisse. ?Instead of competing, we'll now unite as we embark on the next chapter of our joint journey,? UBS Group's newly-returned CEO Sergio Ermotti said in a statement.

Ing to the banks, business activities will continue until Credit Suisse Switzerland is transferred to the UBS systems, probably by 2025. Credit Suisse shares were removed from the stock exchange in June and exchanged for UBS shares. There was one new UBS share for 22.48 Credit Suisse shares.

In the meantime, senior Credit Suisse insiders tell us they're hopeful that UBS will acquire Credit Suisse, "hold" the elements that will comprise CS First Boston, and then spin out the unit as planned in 2024.

Allowing the bankruptcy of troubled lender Credit Suisse would have crippled Switzerland's economy and financial center and likely resulted in deposit runs at other banks, Swiss regulator FINMA said Wednesday.

The First Boston Corporation was a New York?based bulge bracket investment bank, founded in 1932 and acquired by Credit Suisse in 1988. After the acquisition, it operated as an independent investment bank known as CS First Boston until 2006, when the company was fully integrated into Credit Suisse.

Credit Suisse Group AG has been merged into UBS Group AG and the combined entity will operate as a consolidated banking group. Today marks the last trading day of Credit Suisse Group AG shares on the SIX Swiss Exchange. Credit Suisse Group AG ADS will no longer be traded on the New York Stock Exchange.

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Nevada Opinion of CS First Boston Corporation