Credit Suisse First Boston (CSFB) said it hired away more than 100 people from Deutsche Bank Securities in the US in a bid to become the leading investment banker for the technology sector.

The move gives CSFB, the investment banking arm of Credit Suisse Group, a relatively quick and painless entry in a sector it has been eyeing for some time.

But the defections leave Deutsche Bank further adrift in its efforts to register a significant investment banking presence in the US, banking analysts said.

The move follows the July 1st announcement that Mr Frank Quattrone, Mr George Boutros and Mr Bill Brady from Deutsche Securities agreed to join CSFB.