The major Swiss bank Credit Suisse was able to secure the rights for the “First Boston” brand. The spin-off was announced at the end of October.
the essentials in brief
- CS secures the rights to the “First Boston” trademark.
- The bank will spin off part of its investment bank under the name CS First Boston
According to a report in the Financial Times, Credit Suisse has acquired the rights to the First Boston brand.
The big bank announced at the end of October that it would spin off part of its investment bank under the name “CS First Boston” as part of its far-reaching restructuring.
According to the report in the Financial Times on Wednesday, the new investment banking unit should actually be called First Boston.
However, CS discovered that the name had been claimed by another company. As a result, Credit Suisse then switched to the name “CS First Boston”, the British business paper wrote.
At the same time, lawyers for the big bank asked the US Patent and Trademark Office to grant the rights to “First Boston”.
Meanwhile, an agreement has now been reached with the owner of the market on the payment of an unknown amount and the corresponding application to the US authorities has been withdrawn, it is said. A bank spokesperson declined to comment further when asked by AWP.
However, CS pointed out in a statement that Credit Suisse’s Investment Banking & Capital Markets business “looks back on a long history of success with First Boston and DLJ (Donaldson, Lufkin & Jenrette)”.
The bank has “built the First Boston brand and associated reputation and goodwill over decades” and will “vigorously exercise and stand up for its rights in this regard,” the statement said. The “brand plans” are on the right track.
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