Exhibit (a)(15)
Media Relations
Credit Suisse Asset Management LLC
466 Lexington Avenue, New York, NY 10017
CSAM
Leslie Mayock
Telephone 212-878-9542
W.T. Blase & Associates
Carolyn Lisa
Telephone 212-221-1079
Credit Suisse Asset Management to Integrate DLJ's Asset
Management Group - Expanding Business in Americas
New York, NY, October 6, 2000 - Credit Suisse Asset Management (CSAM) today
announced the first steps in integrating DLJ Asset Management Group, Inc.
(DLJ-AMG) following Credit Suisse Group's announced acquisition of Donaldson
Lufkin & Jenrette. Integration of DLJ-AMG will further strengthen CSAM as a
global investment manager with more than $300 billion in assets under
management.
"This integration will give a major boost to our market capabilities in the
Americas and provide a springboard to further expand our market presence," said
Phillip Colebatch, chief executive officer of CSAM.
Jim McCaughan, chief executive officer of CSAM-Americas said, "the integration
of DLJ-AMG with CSAM-Americas is a significant and exciting step forward in the
development of the services CSAM offers to our clients and investors. As a
result of this move, we will offer a broader spectrum of innovative investment
products, processes and strategies, more choices in investment services, and an
expanded network of highly developed distribution systems to accelerate our
growth."
The businesses and investment product lines of the two firms have little overlap
and several significant areas of potential synergy. The Private Client
Businesses of both CSAM and DLJ-AMG will clearly benefit from a broader set of
investment services, trust and estate services, clearer referral sourcing from
Credit Suisse First Boston, and scale. "Over the course of the next few months
we will focus on capitalizing on this increased business capability to deliver
more value to our clients," said McCaughan. "This acquisition gives us the
platform to do that."
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CSAM expands business in Americas
Page Two
Prior to the merger, DLJ-AMG had approximately 200 employees and $34 billion in
assets under management. Following the combination of the two companies,
CSAM-Americas will grow to about 800 employees, and increase its asset base to
over $100 billion in assets under management.
Once the two firms have merged, Moffett Cochran, chairman and CEO of DLJ-AMG
will fill the newly-created position of president of CSAM-Americas, and Martin
Jaffe, chief operating officer of DLJ-AMG, will serve as chief financial
officer. Both will report to McCaughan, CEO of CSAM-Americas. Cochran and Jaffe
will also become members of the CSAM-Americas management committee and Cochran
will become a member of the CSAM operating committee. McCaughan, global chief
investment officer Larry Smith and Bill Priest, chairman of CSAM-Americas, will
continue to serve in their respective positions.
"The two businesses appear to be highly complementary," said Cochran. "In
particular, our cash management and alternative investment capability, our trust
company and our equity team will strengthen and deepen CSAM's capabilities. In
addition, CSAM will get access to DLJ-AMG distribution channels: DLJdirect
(DLJ's on-line trading division) Pershing (DLJ's clearing operation) and the ISG
unit of DLJ (DLJ's Private Client Advisors.) "I'm looking forward to working
with the CSAM team in building one of the biggest integrated investment services
platforms in the U.S.," added Cochran.
Prior to the acquisition of DLJ by Credit Suisse Group, DLJ had agreed to
acquire the fixed income division of Brundage, Story & Rose, which manages
approximately $3 billion of institutional fixed income assets. Under the terms
of the acquisition agreement, the Brundage, Story & Rose group will operate
autonomously within CSAM-Americas, until year-end 2002.
Credit Suisse Asset Management is the institutional asset management and mutual
fund arm of Credit Suisse Group, one of the world's leading financial services
companies with over $842 billion in assets under management, including DLJ.
Credit Suisse Asset Management, with global investment management activities,
employs over 2,200 people worldwide and has global assets under management of
more than $300 billion as adjusted for the acquisition of DLJ-AMG.
LEGAL INFORMATION
Holders of DLJ securities should read the Tender Offer Statement on Schedule TO,
as amended, filed by Credit Suisse Group, as it contains important information
about the tender offer. Investors can obtain such Tender Offer Statement on
Schedule TO, as amended, and other filed documents, for free from the US
Securities and Exchange Commission's website http://www.sec.gov.
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Further Information:
Leslie Mayock, CSAM Corporate Communications Telephone 212 878 9542
Bill Blase/Carolyn Lisa
W.T. Blase & Associates, Inc. Telephone 212 221 1079
