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CSAM CEO Colebatch to resign in 2002

SWITZERLAND - Phillip Colebatch, the chief executive officer of Credit Suisse Asset Management (CSAM), is to retire during the first quarter of 2002 after 17 years with the group.

The group also announced today that Jeffrey Peek has joined the company as a vice-chairman of the Credit Suisse First Boston (CSFB) business unit.

As of February 1, 2002, Peek will head CSFB’s asset gathering businesses, including Credit Suisse Asset Management, which becomes part of Credit Suisse First Boston effective January 1; Pershing, the company’s securities clearing business; and Private Client Services, the business unit’s high-net-worth individual brokerage unit.

Peek, who most recently, was president of Merrill Lynch’s global asset management business. will be a member of CSFB’s executive board and operating committee and report directly to its CEO, John Mack.

Lukas Mühlemann, chairman and CEO of the Credit Suisse Group, commenting on Mr. Colebatch’s retirement, said, “Phillip has been a long-standing, highly valued member of our Group’s senior executive team. His leadership has been instrumental in building Credit Suisse Asset Management’s strong market position and a solid foundation for future growth and profitability. Phillip has decided that now is the appropriate time to pass on the leadership.

Commenting on the hiring of Jeffrey Peek, he said, “Jeff Peek is an outstanding manager who will be a valuable addition to John Mack’s team at Credit Suisse First Boston. His varied experience in asset management and investment banking will greatly benefit the process of integrating Credit Suisse Asset Management into the Credit Suisse First Boston business unit and maximizing the synergies of that combination. His leadership and skill will help us take all of Credit Suisse First Boston’s asset gathering businesses to a new level of success.”



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