Larry Schloss is set to resign as global head of Credit Suisse First Boston's (CSFB's) $31bn (€27bn) private equity business with a view to launching his own private equity business.

Schloss, who has worked for 25 years at CSFB and Donaldson, Lufkin & Jenrette (DLJ), the bank which CSFB took over in 2000, said he would leave at the end of March 2004.