MOVES Credit Suisse seizes banker Deutsche to revive group of financial institutions – memo
LONDON, Sept. 21 (Reuters) – Credit Suisse (CSGN.S) has hired Israel Fernandez of Deutsche Bank (DBKGn.DE) 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. Read more
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 (UNI .MC) and Liberbank and Banco Santander. (SAN.MC) purchase of Allianz Popular Holdings.
In his new role as co-head of the FIG EMEA, he will share responsibilities with Lamm who joined Credit Suisse in 2015 from Morgan Stanley (MS.N) to lead capital markets and advice for clients. of the FIG in France and 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 the bank’s biggest FIG clients, such as Standard Chartered (STAN.L) on the sale of its main financial division and Deutsche Bank on its latest rights issue.
The Swiss lender, which is going through a strategic review of its operations, has previously recruited HSBC banker Orazio Tarda as global co-head of fintech sharing the job with Brian Gudofsky in New York.
Reporting by Pamela Barbaglia; Editing by Lisa Shumaker
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