This content is not available in your region

Credit Suisse hires investment banking advisory heads in Britain, France

Credit Suisse hires investment banking advisory heads in Britain, France
Credit Suisse hires investment banking advisory heads in Britain, France   -   Copyright  Thomson Reuters 2022
By Reuters

(Corrects date of IBA launch to summer 2020 (not summer 2021)

By Brenna Hughes Neghaiwi

ZURICH – Credit Suisse has appointed heads of its new investment banking advisory in Britain and France, the bank said on Tuesday, a business the lender is aiming to boost as part of a wider restructuring announced in November.

Oliver Tucker will be joining the bank as head of its Investment Banking Advisory in Britain from Thursday, a spokesperson told Reuters, while Philippe Guez took up the equivalent role in France earlier in January.

Switzerland’s second-largest lender announced a restructuring in November which involved paring back its investment bank and all but shuttering its prime brokerage business – a part of the division blamed for racking up $5.5 billion in losses when a client defaulted in March.

As part of the overhaul, the group said it would focus more resources within the investment bank on advisory services for entrepreneurs and the ultra-wealthy clientele of its flagship wealth management business.

The investment banking advisory (IBA) business was launched in summer 2020 to boost such services, with a focus on advising and executing smaller deals than those typically handled by an investment bank.

Tucker and Guez will report to IBA European co-heads Stefan Gratzer and Vincenzo De Falco.

Tucker will join Credit Suisse from Nomura, where he served as a managing director in the UK investment banking team, the bank said, while Guez joined from Atlas Financial Solutions, where he served as a partner for independent M&A advisory.

(This story corrects date of IBA launch to summer 2020 (not summer 2021).