Credit Suisse First Boston (CSFB) today
announced that it has placed Frank Quattrone, Head of CSFB’s Global Technology
Group, on administrative leave pending completion of an investigation.
The Firm said it took this action based on new information learned on Friday,
The Firm said that Mr. Quattrone was placed on leave for two reasons.
First, the information discovered Friday raised questions about Mr.Quattrone’s response to an inquiry last week by the Firm about whether he was aware of pending investigations in 2000 when he sent an e-mail to employees regarding document retention issues. Second, the new information raised questions about whether Mr. Quattrone acted appropriately in December 2000
when he sent that e-mail and permitted a subordinate to send a similar e-mail
The Firm emphasized, however, that following these December 2000 e-mails
regarding document retention, the Firm’s legal department acted promptly to
ensure that all relevant documents would be preserved and provided to
The Firm also said that it has notified the appropriate government and
regulatory authorities about the new information learned on January 31 and is
cooperating fully with them.