Credit Suisse Loses Dealmaker Orlando Knauss to Bank of America Amid Banker Exodus

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Credit Suisse Group AG’s head of global industrials investment banking Orlando Knauss has resigned from the firm, according to people with knowledge of the matter, the latest among dozens of senior departures in recent months.

New York-based Knauss, who worked at the Swiss firm for more than two decades, will join Bank of America Corp. as a vice chairman of industrials this fall after a period of gardening leave, one of the people said. Knauss joined Credit Suisse in 2000, according to Finra records.

Spokespeople for Credit Suisse and Bank of America declined to comment. Knauss didn’t immediately respond to requests for comment.

The Zurich-based lender has faced a wave of defections after racking up large losses from its involvement with Archegos Capital Management and Greensill Capital, even as it selectively offers payments to retain senior talent. Just last week, Credit Suisse’s co-head of global industrials in the Americas, Spyros Svoronos, left to join Lazard.

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