Credit Suisse and Michael Klein have ended an agreement for the Swiss bank to acquire boutique investment banking arm The Klein Group, LLC due to its planned takeover by UBS, according to a brief announcement within Credit Suisse’s first-quarter results on Monday.
The deal, first announced in February, saw Credit Suisse set to acquire the ex-Citigroup banker’s investment firm for $175 million and merge the business into Credit Suisse’s CS First Boston investment banking unit, led by Klein.
But…
