Credit Suisse First Boston (CSFB) today announced that Barbara A. Yastine has been named the Firm’s new Chief Financial Officer. She succeeds Richard Thornburgh, who in August was promoted to Chief Risk Officer for Credit Suisse Group, CSFB’s parent company. Ms. Yastine, who will report to CEO John J. Mack, will also become a member of the Firm’s Operating Committee and Executive Board. Ms. Yastine joins CSFB after 15 years with Citigroup, serving since 2000 as Chief Financial Officer of that company’s Global Corporate and Investment Bank. In that role, she also oversaw 1,500 employees in support of Salomon Smith Barney and Citibank’s corporate lending and transaction services businesses worldwide.
Commenting on the announcement, Mr. Mack noted, “Barbara is a tremendous leader whose deep experience and expertise in global financial management will be a key asset in our effort to position CSFB for long-term growth and profitability. She has a proven record in overseeing complex business and financial operations and in building market leading organizations. I am extremely pleased to have her joining the Firm.”
Ms. Yastine previously served as Citigroup’s Chief Auditor, Chief Administrative Officer for its Global Consumer Group, Executive Vice President for Finance and Insurance of CitiFinancial and as Vice President of Investor Relations and Financial Planning & Analysis for Travelers Group. She joined Citigroup in 1987 as Director of Investor Relations at Primerica. Earlier in her career, Ms. Yastine held various communications and investor-relations positions with W.R. Grace & Co. She holds a B.A. in journalism from New York University and an M.B.A. in finance from New York University.
Ms. Yastine said, “I am excited to be coming to CSFB to join an exceptionally talented senior management team. While this is a tough time for the industry, CSFB has in place the leadership and global platform to be an even more effective competitor when the markets recover. My challenge is to continue the significant progress the Firm has made toward improving profitability, while ensuring that we maximize our world-class capabilities to benefit our clients, shareholders and employees.”