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    UBSG   CH0244767585

UBS GROUP AG

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Credit Suisse shuffles Asia Pacific investment banking team - memo

09/16/2021 | 10:13am EDT
FILE PHOTO: Switzerland's national flag flies above the logo of Swiss bank Credit Suisse in Zurich

HONG KONG (Reuters) -Credit Suisse has appointed a new head of mergers and acquisitions (M&A) for Asia Pacific as it shuffles its investment banking team in the region, according to a memo seen by Reuters.

Christian Deiss will take over the Swiss bank's M&A business, replacing Joe Gallagher who will remain vice chairman of investment banking and capital markets for Asia Pacific (APAC), the memo said.

A Credit Suisse spokesperson confirmed the contents of the memo.

The changes come after Credit Suisse made 200 net hires in APAC, which includes China, in the first half of 2021, the spokesperson confirmed.

The bank was hit by staff departures around the world earlier this year following the Archegos and Greensill Capital scandals.

Sanjeev Chaurasia will become the head of industrials and renewable investment banking coverage in APAC, the memo said.

He was previously the co-head of the region's industrials, energy and infrastructure group alongside Deiss.

Aaron Tan will become the co-head of energy and infrastructure banking for APAC and Christopher Chua will be the deputy head of M&A for APAC, in addition to his role leading M&A for Greater China, it said.

In Southeast Asia, Pankaj Goel will leave Credit Suisse at the end of 2021 after 17 years.

Kuan-Ern Tan has been appointed co-head of investment banking and capital markets and Zi-Kuan Lim will become the head of M&A for that region, according to the memo.

Angeline Aw will lead Credit Suisse's Singapore coverage for investment banking and capital markets.

Alongside those changes, Credit Suisse has hired Angelo Coloma to be its head of real estate coverage for Southeast Asia and Harish Kumar to lead technology, media and telecoms coverage in that region. Kumar joins from Swiss rival UBS.

Fisher Zhou will join Credit Suisse from CITIC as a managing director to head healthcare coverage, Alex Wong has been appointed head of mobility and industrial technologies and Jeremy Lane will become the Asia head of metals and mining, according to the memo.

(Reporting by Scott Murdoch in Hong Kong; Editing by David Clarke)


ę Reuters 2021
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Sales 2021 32 615 M 35 501 M 35 501 M
Net income 2021 6 330 M 6 891 M 6 891 M
Net cash 2021 25 328 M 27 570 M 27 570 M
P/E ratio 2021 9,08x
Yield 2021 2,16%
Capitalization 57 076 M 62 024 M 62 127 M
EV / Sales 2021 0,97x
EV / Sales 2022 1,01x
Nbr of Employees 71 304
Free-Float 92,1%
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Ralph A. J. G. Hamers Group Chief Executive Officer
Kirt Gardner Group Chief Financial Officer
Axel A. Weber Chairman
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Sabine Keller-Busse Group Chief Operating Officer
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