CSFB buys parts of BZW

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The Independent Online
CSFB buys up BZW Asia

Credit Suisse First Boston has bought parts of BZW Asia, the subsidiary of UK banking giant Barclays, for an undisclosed price, extending its reach in Asia's securities business.

CSFB said it would hire about 200 of BZW Asia's 700 employees. It is buying BZW's Hong Kong investment banking, mergers and acquisitions and equity capital markets businesses as well as some parts of its equity sales and research businesses. The businesses being sold had net assets of pounds 14m.