Credit Suisse First Boston named Hector Sants to a newly created post of chief executive for Europe, a year after he joined as part of the firm’s acquisition of Donaldson, Lufkin & Jenrette, Inc.
CSFB appointed another DLJ veteran, Costas Michaelides, as chief operating officer, helping Sants to manage the firm in Europe, said Maria Marinos, a CSFB spokeswoman, confirming a report earlier in the Financial Times.
John Mack, who took over as chief executive officer of CSFB worldwide in July, is trying to dismantle some of the fiefdoms created by his predecessor Allen Wheat. Two weeks after becoming CEO, Mack moved Charles Ward, co-head of investment banking, to Europe as part of a focus on regional management.
The appointments of Sants, 45, and Michaelides follow an announcement earlier this week that Christopher Carter will succeed John Nelson as chairman of CSFB in Europe, focusing on client relationships.