Credit Suisse Hires Investment Banking Advisory Heads in Britain and France | Investment News

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(Corrects IBA launch date to Summer 2020 (not Summer 2021)

By Brenna Hughes Neghaiwi

ZURICH (Reuters) – Credit Suisse has appointed the heads of its new investment banking consultancy in Britain and France, the bank said on Tuesday, a business the lender aims to bolster as part of a restructuring wider announced in November.

Oliver Tucker will join the bank as head of its investment banking advisory in Britain from Thursday, a spokesman told Reuters, while Philippe Guez took on the equivalent role in France earlier in January. .

Switzerland’s second-largest lender announced a restructuring in November that involved downsizing its investment bank and closing its prime brokerage business – part of the division accused of racking up $5.5 billion in losses when one customer defaulted in March.

As part of the overhaul, the group said it would focus more resources within the investment bank on advising entrepreneurs and the ultra-wealthy clientele of its flagship wealth management business.

The Investment Banking Advisory (IBA) business was launched in the summer of 2020 to boost these services, with a focus on advising on and executing smaller transactions than those typically handled by an investment bank. ‘investment.

Tucker and Guez will report to IBA European co-heads Stefan Gratzer and Vincenzo De Falco.

Tucker will join Credit Suisse from Nomura, where he served as managing director of the UK investment banking team, the bank said, while Guez joined Atlas Financial Solutions, where he was a partner for the independent advice on mergers and acquisitions.

(This story corrects IBA launch date to Summer 2020 (not Summer 2021).

(Reporting by Brenna Hughes Neghaiwi; Editing by Kirsten Donovan)

Copyright 2022 Thomson Reuters.

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