Investment Banking

UBS starts talks to unwind CS First Boston spinoff — reports

Deal to make former Citi banker Michael Klein head of the new business now looks in doubt

Swiss lender UBS is looking to unwind a deal to sell off Credit Suisse's investment bank and has entered talks with dealmaker Michael Klein, the Financial Times reports, citing unnamed sources.

Troubled Credit Suisse last year negotiated a deal to separate investment unit CS First Boston, with Klein's advisory boutique to be folded in and he to be made chief executive.

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Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a BillionaireExternal link

Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a Billionaire