Aug 3 (Reuters) - Credit Suisse Group AG has hired
Aly Alibhai away from Citigroup Inc to lead its global
media and entertainment investment banking group, one of its
most high-profile hires as it seeks to recover from a slew of
Alibhai will join Credit Suisse in New York after spending
16 years at Citigroup advising media and communications clients,
according to a memo seen by Reuters, whose content was confirmed
by a Credit Suisse spokesperson.
The Swiss bank suffered a 41% fall in investment banking
revenue in the second quarter, after its lending exposure to
troubled investment fund Archegos led to a $5.5 billion loss. A
string of investment bankers not involved in the debacle jumped
ship as a result, concerned about the financial and reputational
fallout for the bank, including its head of global mergers and
acquisitions group Greg Weinberger.
Weinberger left Credit Suisse for Morgan Stanley.
Alibhai's recent clients include Fox, Sony and Warner Music
Group. He is expected to start next week, according to the memo
sent by global co-head of media and telecom Giuseppe Monarchi on
Credit Suisse said on Monday it had hired HSBC banker Orazio
Tarda to co-lead its global financial technology investment
Credit Suisse currently ranks number seven in Refinitiv's
global M&A league table.
(Reporting by Krystal Hu in New York
Editing by Sonya Hepinstall)