Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Credit Suisse Group AG    CSGN   CH0012138530

CREDIT SUISSE GROUP AG

(CSGN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Credit Suisse : shifts senior dealmakers to new client advisory group - memo

12/01/2020 | 11:39am EST
FILE PHOTO: The logo of Swiss bank Credit Suisse is seen in Bern

LONDON (Reuters) - Credit Suisse is shifting three of its most senior dealmakers in EMEA to a new team focused purely on bringing in business as part of its efforts to increase M&A revenue and market share, according to a memo seen by Reuters.

The bank has promoted two London-based bankers focusing on financial services - Max Mesny and Chris Williams - and Italy-based Andrea Donzelli to its Client Advisory Group, which was first launched in October to deepen relationships with corporate clients, said the memo whose content was confirmed by a Credit Suisse spokesperson.

The trio will join a group of seven investment bankers in Europe, the Middle East and Africa (EMEA) and the United States who were promoted on Oct. 23 when the new unit, headed by David Wah, was first announced.

It comes as the Swiss bank seeks to win a bigger slice of global dealmaking, hiring former Bank of America executive Christian Meissner in October for a new role to help cross-sell more investment banking services to ultra-wealthy entrepreneurs in its private bank.

Its new client advisory structure follows sweeping personnel changes at the top of other investment banks, including JPMorgan and Goldman Sachs.

It also highlights the pressures big investment banks are facing to retain senior staff in the face of increasing competition from rival boutiques which can attract seasoned bankers with more entrepreneurial roles.

"With the addition of the Client Advisory Group in EMEA, we are affirming our commitment to investing in and growing this business," said the memo which was signed by Wah as well as David Miller, who heads capital markets and advisory, and Jens Welter, who heads the EMEA investment bank.

The client advisory group, which now comprises 10 bankers overall, also includes global energy chairman Osmar Abib, global co-head of media and telecom Giuseppe Monarchi, and global head of chemicals Spyros Svoronos.

Within EMEA, Welter and Monarchi will coordinate efforts to further expand the bank's so-called "coverage advisory team" with new hires and internal transfers, the memo said.

Credit Suisse, which has proposed outgoing Lloyds Banking Group Chief Executive António Horta-Osório as its new chairman, ranks sixth in global M&A league tables so far this year, ahead of UBS and behind Wall Street's top five banks, while it has an eighth placement in Europe, Refinitiv data shows.

In November, it landed a key mandate on S&P's $44 billion swoop on London-based IHS Markit - the biggest deal so far this year - which has helped it boost its league table ranking.

FIG SHAKE-UP

The bank has also reviewed the leadership of its financial institution group (FIG) following the promotions of both Mesny and Williams and in the wake of a series of systemic mergers within the banking industry.

In a separate memo, Credit Suisse announced that Armando Rubio-Alvarez - who had been co-heading the FIG team in EMEA with Max Mesny for the past three years - will become the sole head of the EMEA FIG franchise, while Mesny will serve as chairman of EMEA FIG.

Williams, who rejoined Credit Suisse in October from boutique advisory firm Perella Weinberg Partners, will continue to focus on EMEA FIG business while taking on a broader role as vice chairman for capital markets and advisory across EMEA.

Alejandro Przygoda - who heads global FIG at Credit Suisse - will still have Rubio-Alvarez, Mesny and Williams reporting into him, although both Mesny and Williams will have another reporting line into Wah as members of the client advisory group.

Donzelli, a well-known banker in Italy where he advised infrastructure group Atlantia among others, will retain his existing role as co-head of capital markets and advisory for Italy.

(Reporting by Pamela Barbaglia in London, Editing by Louise Heavens, Catherine Evans and Susan Fenton)

By Pamela Barbaglia


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CREDIT SUISSE GROUP AG -0.48% 12.35 Delayed Quote.8.33%
LLOYDS BANKING GROUP PLC -1.43% 35.935 Delayed Quote.-1.39%
All news about CREDIT SUISSE GROUP AG
05:44aPost-Covid Recovery Divides Rich Nations From Poor -- Journal Report
DJ
01/15Mobile gaming firm Playtika's shares jump nearly 24% in Nasdaq debut
RE
01/15Eldorado Gold Underperform Rating Maintained by Credit Suisse
MT
01/15ASANA : Credit Suisse Adjusts Asana's Price Target to $32 from $27, Keeps Neutra..
MT
01/15EVERBRIDGE : Credit Suisse Downgrades Everbridge to Neutral from Outperform, Mai..
MT
01/15FIRST REPUBLIC BANK : Credit Suisse Adjusts First Republic Bank's Price Target t..
MT
01/15DOMO : Credit Suisse Adjusts Domo's Price Target to $65 from $45, Keeps Neutral ..
MT
01/15AUTODESK : Credit Suisse Adjusts Autodesk's Price Target to $340 from $275, Keep..
MT
01/15PAGERDUTY : Credit Suisse Adjusts PagerDuty's Price Target to $42 from $34, Keep..
MT
01/15EVERSOURCE ENERGY : Credit Suisse Adjusts Eversource Energy's Price Target to $8..
MT
More news
Financials
Sales 2020 22 168 M 24 856 M 24 856 M
Net income 2020 2 993 M 3 356 M 3 356 M
Net Debt 2020 - - -
P/E ratio 2020 10,3x
Yield 2020 2,35%
Capitalization 29 909 M 33 613 M 33 537 M
Capi. / Sales 2020 1,35x
Capi. / Sales 2021 1,36x
Nbr of Employees 48 800
Free-Float 98,9%
Chart CREDIT SUISSE GROUP AG
Duration : Period :
Credit Suisse Group AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CREDIT SUISSE GROUP AG
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 13,69 CHF
Last Close Price 12,35 CHF
Spread / Highest target 44,9%
Spread / Average Target 10,8%
Spread / Lowest Target -42,1%
EPS Revisions
Managers and Directors
NameTitle
Thomas Gottstein Chief Executive Officer
Urs Rohner Chairman
James Walker Chief Operating Officer
David Richard Mathers Chief Financial Officer
John Ivan Tiner Independent Non-Executive Director
Sector and Competitors