According to a report in the Financial Times, Credit Suisse has secured 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 Wednesday’s Financial Times article, the new investment banking unit was to 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 newspaper wrote.
At the same time, lawyers for the big bank demanded that the US Patent and Trademark Office grant the rights to “First Boston.” Meanwhile, an agreement has now been reached with the owner of the trademark on the payment of an undisclosed amount and the corresponding application to the US authorities has been withdrawn, it is said. A bank spokesperson declined to comment further on AWP’s request.
However, in a statement, CS pointed out that Credit Suisse’s Investment Banking & Capital Markets business “looks back on a long-standing success story with First Boston and DLJ (Donaldson, Lufkin & Jenrette)”. The bank “has built the First Boston brand, reputation and goodwill over decades and will vigorously exercise and support its rights in this regard,” the statement said. The “brand plans” are on the right track.