Cs First Boston's Raid On Deutsche

IF DEUTSCHE BANK'S U.S. SUBSIDIARY had been hit by a meteor, it probably wouldn't have left a crater as wide as the one announced on July 14. More than 100 employees in Deutsche Bank's technology investment-banking division decamped for Credit Suisse First Boston, following the lead of superbanker Frank Quattrone, who jumped to the New York firm on July 1. "This is like an acquisition, but it reduces overhead and layoffs," gloats one Credit Suisse First Boston exec.

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