FinanceAsia can reveal a major change at CSFB. The Hong Kong-based global head of emerging markets, Marcus Everard will be leaving the firm.
According to market talk, Everard who was one of the best remunerated bankers in Asia was offered a very senior role in Japan. This would have been a very important, although difficult role, given that CSFB had experienced problems with Japan's regulators in recent years over the sale of derivatives.
Everard, however, could not agree a package that was mutually agreeable to both he and CSFB. Everard, who spent much of his time on planes between Asia, Latin America and Eastern Europe was also head of investment banking for the Pacific-region meaning Asia, Japan and Australia-New Zealand. His departure will occasion a reorganization of the investment banking division although this has yet to be announced.
CSFB's spokesperson Tom Grimmer confirmed that Everard is retiring and that there will be more news about the reorganization of CSFB's Asian investment banking business in coming days.