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    CSGN   CH0012138530

CREDIT SUISSE GROUP AG

(CSGN)
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Credit Suisse : snaps up Deutsche banker to relaunch financial institutions group - memo

09/21/2021 | 12:19pm EDT
A Credit Suisse sign is seen on the exterior of their Americas headquarters in the Manhattan borough of New York City

LONDON (Reuters) - Credit Suisse has poached Deutsche Bank's Israel Fernandez to lead its financial institutions group (FIG) in Europe, the Middle East and Africa in tandem with Julien Lamm, according to a memo seen by Reuters.

Fernandez will take on his new role on Nov. 15 and will be based in Madrid, just like his predecessor Armando Rubio-Alvarez - the bank's former head of EMEA FIG - who quit in June to join Jefferies.

A 15-year veteran of Deutsche Bank, where he was most recently in charge of its FIG franchise in Iberia, Fernandez has advised on a wide range of transactions including the 2.2 billion euro merger of Unicaja and Liberbank and Banco Santander's purchase of Allianz Popular Holdings.

In his new role as co-head of EMEA FIG he will share responsibilities with Lamm who rejoined Credit Suisse in 2015 from Morgan Stanley to lead capital markets and advisory for FIG clients in France and Belgium while also covering European insurers.

The new leadership structure comes as Switzerland's second-largest bank is seeking to fill key investment banking jobs left vacant by a talent exodus earlier this year following a series of scandals that have shattered employee morale.

Credit Suisse has also elevated Gaurav Parkash to EMEA head of banks, reporting to Fernandez and Lamm.

Parkash, who joined Credit Suisse in 2008, has worked with some of bank's biggest FIG clients such as Standard Chartered on its sale of its principal finance division and Deutsche Bank on its latest rights issue.

The Swiss lender, which is going through a strategic review of its operations, previously snapped up HSBC banker Orazio Tarda as its global co-head of fintech sharing the job with Brian Gudofsky in New York.

(Reporting by Pamela Barbaglia; Editing by Lisa Shumaker)

By Pamela Barbaglia


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CREDIT SUISSE GROUP AG 0.42% 9.63 Delayed Quote.-15.53%
DEUTSCHE BANK AG 0.38% 11.618 Delayed Quote.29.82%
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Financials
Sales 2021 22 483 M 24 533 M 24 533 M
Net income 2021 542 M 591 M 591 M
Net Debt 2021 - - -
P/E ratio 2021 44,7x
Yield 2021 1,73%
Capitalization 23 221 M 25 329 M 25 338 M
Capi. / Sales 2021 1,03x
Capi. / Sales 2022 1,07x
Nbr of Employees 49 240
Free-Float 90,9%
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Number of Analysts 21
Last Close Price 9,63 CHF
Average target price 10,93 CHF
Spread / Average Target 13,5%
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Managers and Directors
Thomas Gottstein Chief Executive Officer
David Richard Mathers Chief Financial Officer
António Mota De Sousa Horta-Osorio Chairman
James Walker Chief Operating Officer
Thomas Grotzer Global Head-Compliance
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