Credit Suisse markets CSFB as '最高の boutique', sees 歳入 回復する
By Paritosh Bansal
Feb 6 (Reuters) - Credit Suisse Group AG is marketing its First Boston 投資 banking 部隊 to 投資家s as a "最高の boutique" and sees 歳入 殺到するing to as much as $3.5 billion, as the 戦闘の準備を整えた 貸す人 捜し出すs to raise 基金s for the 改造するd 商売／仕事, a company 文書 seen by Reuters shows.
The marketing 贈呈, which has not been 以前 報告（する）／憶測d, shows the スイスの bank is betting on an 積極的な 回復する at CS First Boston (CSFB) after 歳入 急落（する），激減（する）d 69% in 2022.
In the sales pitch to 投資家s, 時代遅れの January, the bank said it aspires to より勝る the $2.5 billion 逮捕する 歳入 的 it 始める，決める out only last October for the 部隊, taking into account that the 商売／仕事 will be 独立した・無所属 and assuming "a 標準的にする／正常にするd market 環境."
The bank also lays out in greater 詳細（に述べる） its 推論する／理由ing for the 再編するd 分割's 競争の激しい 辛勝する／優位 in a （人が）群がるd 投資 banking market. CSFB, the 贈呈 said, would be a "最高の boutique", more 焦点（を合わせる）d than large banks but broader than （a）忠告の／（n）警報 会社／堅いs that do not 申し込む／申し出 services such as 財政／金融ing.
The pitch to 投資家s comes as the 取引，協定s market 地位，任命するd a 示すd 減産／沈滞 last year that 攻撃する，衝突する many 塀で囲む Street 会社／堅いs, with 銀行業者s 事業／計画（する）ing a slow start to the year.
The marketing 贈呈, which 含むs 詳細（に述べる）d 条件 for its $500 million 資本／首都 raise, 明らかにする／漏らすs for the first time that the スイスの bank is looking to raise the 基金s through a five-year exchangeable 負債 安全, 支払う／賃金ing 6% 年次の 利益／興味.
The money will be raised by the parent, Credit Suisse, and 投資家s will have to 交換（する） their the 公式文書，認めるs into 株 of CSFB if there's a spin-off or 初期の public 申し込む／申し出ing.
The bank is 的ing an IP O for CSFB in 2024 or 2025, a source familiar with the 状況／情勢 said.
Credit Suisse 拒絶する／低下するd to comment for this article.
OVERHAUL PLAN
Last October Credit Suisse 乗る，着手するd on an 精密検査する of the bank, which has 苦しむd billions of dollars in losses from a 一連の スキャンダルs and is now on its third 長，指導者 (n)役員／(a)執行力のある in three years.
It 計画（する）s to shed riskier 資産s and 焦点（を合わせる） on more profitable 商売／仕事s such as wealth 管理／経営. One major piece of the 再編成 is the 創造 of CSFB, 生き返らせるing the First Boston brand, which Credit Suisse had first bought into in 1988.
The 計画（する） is for CSFB to operate as an 独立した・無所属 資本／首都 markets and （a）忠告の／（n）警報 bank headquartered in New York. 退役軍人 dealmaker Michael Klein has stepped 負かす／撃墜する from the Credit Suisse board to become CEO.
In 発表するing the 精密検査する, CEO Ulrich Koerner in October said the bank already had a $500 million かかわり合い from an 投資家 but did not 指名する them. Reuters could not 決定する why Credit Suisse was soliciting more 投資家s for the 資本／首都 raise if it already had a かかわり合い for the 十分な 量.
'REIMAGINES' INVESTMENT BANKING
CSFB, the bank said in the 文書, "reimagines" its 投資 banking 商売／仕事.
An "取得／買収 and 戦略の 財政／金融" group would 焦点（を合わせる） on 財政／金融ing for 取引，協定s and a "財務省 解答s" 部隊 would manage 社債 sales and help 基金 select （弁護士の）依頼人s.
Third-party 資本／首都 would help 基金 the 部隊's lending as a standalone （独立の）存在, Credit Suisse said, without 供給するing 付加 詳細（に述べる）s. At the same time, Credit Suisse would pull 支援する from 確かな 商売／仕事s, such as 供給するing 回転するing credit lines to companies and 非，不，無-必須の 貿易（する）ing.
その上の, CSFB will b e "高めるd by the 推定する／予想するd 取得／買収" of Klein´s （a）忠告の／（n）警報 boutique, the Klein Group LLC. 設立するd in 2010, the 会社／堅い has advised on $1.5 一兆 of 処理／取引s, 含むing such 取引，協定s as the IPO of Saudi oil 巨大（な） Aramco , によれば the 贈呈.
Bloomberg News 報告（する）／憶測d last month that Credit Suisse was 近づくing a 取引，協定 to buy the boutique for a few hundred million dollars.
Klein 拒絶する／低下するd to comment through a spokesperson.
FINANCIAL PROJECTIONS
財政上の results and 発射／推定s 供給するd in the 贈呈 申し込む／申し出 a snapshot into the 法外な 拒絶する／低下する in CSFB´s 商売／仕事 last year.
The data, which is based on 草案 historical 財政上の results and which has not been 提携させるd to the new CSFB model, show 逮捕する 歳入 fell to $1.4 billion in 2022 from $4.5 billion the previous year.
Credit Suisse 事業／計画（する）d a strong 回復する in 歳入s for the 部隊. 内部の 財政上の 計画（する）s 見積（る） a 43% rise in 逮捕する 歳入s in 2023 to $2 billion. 歳入s are seen growing to $2.7 billion by 2027, while costs remain flat over that period, the 文書 shows.
Longer 称する，呼ぶ／期間／用語 under its 計画（する） for CSFB, Credit Suisse 事業／計画（する）s 逮捕する 歳入s could rise to as much as $3.5 billion.
RETAINING BANKERS
The bank said 10 of the 11 members of the 現在の 管理／経営 委員会 at CSFB started their careers at First Boston or Donaldson, Lufkin & Jenrette, a 塀で囲む Street 会社／堅い that Credit Suisse acquired in 2000.
Credit Suisse has been 疫病／悩ますd by an exodus of 上級の 銀行業者s over the past couple of years. To "保持する and 新採用する best-in-class （a）忠告の／（n）警報 talent," CSFB 計画（する）s to use 公正，普通株主権 and 推定する／予想するs to be partly owned by "its 上級の leaders."
CSFB 推定する／予想するs to be 規制するd as a 非，不，無-bank, wh ich would give the 商売／仕事 an "辛勝する／優位 on 補償（金）," the bank said.
At the time of an IPO of CSFB, 投資家s would have to 変える their 持つ／拘留するing into 株, which they would receive at a 10% 割引 to the 名簿（に載せる）／表（にあげる）ing price, the 称する，呼ぶ／期間／用語 sheet shows. Absent a 取引，協定, 投資家s would receive 103% of the 主要な／長／主犯 at 成熟, the 文書 shows.
Credit Suisse's $1.5 billion of 6.373% 上級の 社債s 予定 on 2026 are 現在／一般に 産する／生じるing around 7.8%, Refinitiv data show. (付加 報告（する）／憶測ing by Chiara Elisei and Greg Roumeliotis; Editing by Elisa Martinuzzi and Anna Driver)
