CSFB Private Equity appoints European co-head

CSFB Private Equity, the private equity arm of investment bank CSFB, has bolstered its European credentials with the appointment of Susan Schnabel as co-head of European operations.

Susan Schnabel has moved to become co-head of European activities at CSFB Private Equity, as the firm seeks to expand its European activities.

The move is an internal one that sees Schnabel relocate to London from Los Angeles, where she was a managing director at DLJ Merchant Banking Partners, the private equity fund that became part of CSFB when it acquired DLJ in 2000. She will work alongside the previous head of Europe, Colin Taylor, who now becomes co-head.

The move comes after investors in CSFB’s E4.6bn global buyout fund agreed to raise the maximum allocation to Europe from a quarter to a third of the total – equating to just over E1.5bn.

CSFB Private Equity has been active in Europe recently, selling gaming group Gala to Candover and Cinven earlier in the year for E1.7bn. Last year, it acquired Scandinavian pharmaceutical company Nycomed with NIB Capital and Blackstone Group for E1.1bn and bought Safilo, the Italian eyewear firm, for E270m.

Schnabel joined CSFB in 1990 and held various positions within the bank in the areas of public and private high yield debt, equity financings and M&A advisory. As managing director at DLJ Merchant Banking Partners, she was responsible for principal investment activities in the Los Angeles office. Prior to that, she spent one year as chief financial officer of PETsMART, the listed pet products retailer.