Credit Suisse chief executive, Thomas Gottstein, says the boom in so-called blank-cheque companies that have raised over $100bn in the past year will continue as the deal frenzy spreads beyond the US.

The Swiss bank tops the investment banking league tables for special purpose acquisition vehicles (Spacs), which exploded in popularity during the pandemic. Gottstein's comments on the Spac boom contrast with those of Goldman Sachs chief executive David Solomon, who said during the bank's 2020 earnings call that the craze was not "sustainable in the medium term".