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    CSGN   CH0012138530

CREDIT SUISSE GROUP AG

(CSGN)
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MOVES-Credit Suisse hires Citigroup banker Alibhai to lead media M&A

08/03/2021 | 03:11pm EDT

Aug 3 (Reuters) - Credit Suisse Group AG has poached Aly Alibhai from Citigroup Inc to lead its global media and entertainment mergers and acquisitions (M&A) group, one of its most high-profile hires as it seeks to recover from a slew of departures.

Alibhai will join Credit Suisse in New York after spending 16 years at Citigroup advising media and communications clients, according to a memo seen by Reuters, whose content was confirmed by a Credit Suisse spokesperson.

The Swiss bank suffered a 41% fall in investment banking revenue in the second quarter, after its lending exposure to troubled investment fund Archegos led to a $5.5 billion loss. A string of investment bankers not involved in the debacle jumped ship as a result, concerned about the financial and reputational fallout for the bank, including its head of global mergers and acquisitions group Greg Weinberger.

Alibhai's recent clients include Fox, Sony and Warner Music Group. He is expected to start next week, according to the memo sent by global co-head of media and telecom Giuseppe Monarchi on Tuesday.

Credit Suisse said on Monday it had hired HSBC banker Orazio Tarda to co-lead its global financial technology investment banking coverage.

Credit Suisse currently ranks number seven in Refinitiv's global M&A league table. (Reporting by Krystal Hu in New York Editing by Sonya Hepinstall)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CREDIT SUISSE GROUP AG -0.04% 9.504 Delayed Quote.-16.60%
SONY GROUP CORPORATION 0.37% 12315 End-of-day quote.19.74%
WARNER MUSIC GROUP CORP. 2.30% 41.41 Delayed Quote.6.55%
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Financials
Sales 2021 22 482 M 24 110 M 24 110 M
Net income 2021 539 M 578 M 578 M
Net Debt 2021 - - -
P/E ratio 2021 45,2x
Yield 2021 1,83%
Capitalization 22 917 M 24 619 M 24 576 M
Capi. / Sales 2021 1,02x
Capi. / Sales 2022 1,04x
Nbr of Employees 49 240
Free-Float 90,9%
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Credit Suisse Group AG Technical Analysis Chart | CSGN | CH0012138530 | MarketScreener
Technical analysis trends CREDIT SUISSE GROUP AG
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 9,51 CHF
Average target price 11,00 CHF
Spread / Average Target 15,7%
EPS Revisions
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
Sector and Competitors