Double vision

Safilo hasn’t been a lot of fun for CSFB. First, the investment bank struggled to sell down part of the financing for the Italian eyewear-maker’s leveraged buyout. And now it has been undermined by the eleventh-hour appointment of Morgan Stanley as adviser to the company’s flotation. The firm may still be formally advising on the IPO, which starts trading later this week. But the appointment of Morgan Stanley is a huge embarrassment nonetheless. It is not clear exactly why the company felt anot...