Credit Suisse acquires Deutsche Banker to revive group of financial institutions
By Pamela Barbaglia
LONDON (Reuters) – Credit Suisse has recruited Israel Fernandez from Deutsche Bank to lead its group of financial institutions (FIG) in Europe, the Middle East and Africa in tandem with Julien Lamm, according to a memo seen by Reuters.
Fernandez will take up his new role on November 15 and will be based in Madrid, as will his predecessor Armando Rubio-Alvarez – the former EMEA FIG bank manager – who resigned in June to join Jefferies.
A 15-year veteran of Deutsche Bank, where he was most recently in charge of his FIG franchise in the Iberian Peninsula, Fernandez has advised a wide range of transactions, including the â¬ 2.2 billion merger of Unicaja and Liberbank and the purchase by Banco Santander of Allianz Popular Holdings. .
In his new role as co-head of FIG EMEA, he will share responsibilities with Lamm who joined Credit Suisse in 2015 from Morgan Stanley to lead capital markets and advice for FIG clients in France and in Belgium while also covering European insurers.
The new leadership structure comes as Switzerland’s second-largest bank seeks to fill key investment banking positions left vacant by an outflow of talent earlier this year following a string of morale-shaking scandals employees.
Credit Suisse has also elevated Gaurav Parkash to the head of EMEA banks, reporting to Fernandez and Lamm.
Parkash, who joined Credit Suisse in 2008, has worked with some of FIG Bank’s biggest clients, such as Standard Chartered on the sale of its main financial division and Deutsche Bank on its last rights issue.
The Swiss lender, which is going through a strategic review of its operations, has previously recruited HSBC banker Orazio Tarda as the global co-head of fintech sharing the job with Brian Gudofsky in New York.
(Reporting by Pamela Barbaglia; Editing by Lisa Shumaker)