CSFB wins symbolic Fubon mandate

CSFB bounces back from its expulsion from the Unicom equity deal by picking up a key mandate in Taiwan.

In the contentious world of Asian investment banking, few mandates can have as much symbolism as Wednesday's award by the Fubon Group of Taiwan of a significant MA mandate to CSFB.

The mandate is to advise the Fubon Group on the share swap ratios that need to be decided for the merger of the five financial services arms of the group. The five companies are Fubon Insurance, Fubon Bank, Fubon Life Assurance, Fubon Securities and Fubon Securities Investment Trust. These five will be merged into one financial services giant which will dominate the financial scene in what China terms a renegade province.

Citigroup owns 15% of the Fubon Group and has...

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