MICHAEL VON CLEMM END OF A LEGEND.

This article reports that one of the veterans of the Euromarket, Michael von Clemm resigned in January as chairman of premier issuing house Credit Suisse First Boston Corp. (CSFB). Von Clemm's career hit a high point in 1979 when a hemorrhage of talent from the top of CSFB left the doctor of anthropology holding the twin titles of chairman and chief executive. Battling through a succession of crises, losses of $20 million on one bond issue, allegations of malpractice, waves of defections, Von Clemm drove CSFB to the top of the league. Von Clemm became the public face of CSFB. Outsiders, who often described von Clemm with superlatives, may be surprised to learn how much his reputation had waned within CSFB by the time he left. But von Clemm's abrupt departure surprised CSFB executives. It's hard to discover exactly why he went, because the bank imposed a news blackout on the affair. Von Clemm and Jack Hennessy, the chief executive who has now become chairman, both declined to meet the journal "Euromoney."