New CSFB head to tackle controls


ZURICH, SWITZERLAND -- Swiss banking group Credit Suisse signalled again in July its desire to tackle operational problems at Credit Suisse First Boston (CSFB) by naming a traditional-style banker as the new chief executive of its investment banking arm.

John Mack, former president and chief operating officer of Morgan Stanley Dean Witter, was appointed CSFB's chief executive with immediate effect following the abrupt departure of Allen Wheat "to pursue other interests".

Mack says he wants to

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