Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Credit Suisse names new heads of global M&A practice -memo

06/16/2021 | 03:34pm EDT
FILE PHOTO: Logo of Swiss bank Credit Suisse is seen in Zurich

NEW YORK (Reuters) -Credit Suisse Group has named a trio of dealmakers to run its global mergers and acquisitions practice, in a leadership reshuffle after the previous chief's departure from Switzerland's second largest bank.

The changes follow a wave of investment bankers leaving the bank after bonuses were cut to tackle losses of more than $5 billion from the collapse of U.S. investment firm Archegos and British supply chain financier Greensill Capital.

David Wah has been elevated to global head of advisory, effective immediately, according to a memo seen by Reuters. A bank spokesperson confirmed the contents on Wednesday.

Wah will continue to head Credit Suisse's client advisory group, a team of senior bankers formed during the coronavirus pandemic to focus on the bank's best clients.

Cathal Deasy and Steven Geller have been promoted to global co-heads of the mergers and acquisitions practice. London-based Deasy was previously head of dealmaking in Europe, the Middle East and Africa, while Geller ran M&A in the Americas and globally within the bank's technology-focused unit.

The deals the two have worked on include the combination of DuPont's nutrition and bioscience business with IFF , and the acquisition by FIS of rival Worldpay, the memo added.

The changes come after veteran Credit Suisse dealmaker Greg Weinberger, who had led the bank's global M&A franchise, departed for Morgan Stanley, a source familiar with the matter told Reuters earlier on Wednesday.

In recent weeks, several of Credit Suisse's most senior dealmakers advising other financial institutions (FIG) on mergers and other strategic matters have left, including Alejandro Przygoda, the global head of FIG.

(Reporting by David French in New YorkEditing by Chris Reese and Richard Chang)

By David French

ę Reuters 2021
Latest news "Economy & Forex"
12:39pBIT Mining Buying 2,500 New Bitcoin Mining Machines
12:36pBoeing posts first profit in almost two years as 737 MAX deliveries rise
12:36pEU signs deal with GSK for supply of COVID potential drug
12:36pUniversal access to high-speed internet will make home-based work more productive, study
12:34pIndia's top carmaker Maruti Suzuki margins disappoint on rising costs
12:34pGameStop to rebrand EB Games in Canada by year-end
12:30pTSX futures lower ahead of inflation data
12:28pTilray revenue disappoints as Canada lockdowns dent cannabis demand
12:28pFutures little changed after mixed tech earnings, Fed decision in focus
12:27pExclusive-Jet2 in talks to buy planes, Airbus front-runner - sources
Latest news "Economy & Forex"