CSFB's New Mr Big

Ogunlesi, 48, graduated from Oxford and was admitted to Harvard Law School.

After Harvard, he became the first non-American clerk at the Supreme Court, at one time working with Justice Thurgood Marshall.

Next up was a spell at corporate finance law firm Cravath, Swaine & Moore and he was there in 1983 when CSFB asked to borrow him for 3 months as they were working on a $6bn liquefied natural gas project in Nigeria. He never returned to the law firm and has been with CSFB ever since, working in a number of senior roles, primarily energy related.

He is a much respected senior member of Mack's management team and will be heavily involved in trying to cut back the investment bank's cost structure.