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    CSGN   CH0012138530

CREDIT SUISSE GROUP AG

(CSGN)
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Credit Suisse : hires Citigroup banker Alibhai to lead media investment banking

08/03/2021 | 04:18pm EDT

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 departures.

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 Tuesday.

Credit Suisse said on Monday it had hired HSBC banker Orazio Tarda to co-lead its global financial technology investment banking coverage.

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)


ę Reuters 2021
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Financials
Sales 2021 22 482 M 24 217 M 24 217 M
Net income 2021 539 M 580 M 580 M
Net Debt 2021 - - -
P/E ratio 2021 45,2x
Yield 2021 1,83%
Capitalization 21 185 M 22 837 M 22 821 M
Capi. / Sales 2021 0,94x
Capi. / Sales 2022 0,96x
Nbr of Employees 49 240
Free-Float 90,9%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 9,50 CHF
Average target price 11,00 CHF
Spread / Average Target 15,8%
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Managers and Directors
Thomas Gottstein Chief Executive Officer
David Richard Mathers Chief Financial Officer
Antˇnio Mota De Sousa Horta-Osorio Chairman
James Walker Chief Operating Officer
Thomas Grotzer Global Head-Compliance
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