Credit Suisse Bankers Exit for BofA, Morgan Stanley, Jefferies
Credit Suisse Bankers Exit for BofA, Morgan Stanley, Jefferies
(Bloomberg) -- A trio of senior Credit Suisse Group AG bankers have left the Swiss lender, the latest in a string of departures following the firm’s recent debacles involving Archegos Capital Management and supply-chain finance firm Greensill Capital.
New York-based Andrew Conway, vice chairman of global consumer investment banking, and New York-based Charles Hadid, a managing director in the firm’s consumer investment-banking group, left for Bank of America Corp. and Morgan Stanley respectively, according to people with knowledge of the matter. Milan-based Marco Staccoli, a managing director advising on financial-institutions transactions in European nations including Italy, Germany and Austria, left for Jefferies Financial Group Inc., some of the people said.
Representatives for Credit Suisse, Morgan Stanley and Jefferies declined to comment, as did Staccoli. Bank of America, Conway and Hadid didn’t immediately respond to requests for comment.
In October, Conway was named as one of seven bankers who formed a new client-advisory group, in which Credit Suisse said it would intensify the focus on priority clients. He’s worked at Credit Suisse for the past 19 years and had earlier stints at Morgan Stanley, Salomon Brothers and Drexel Burnham Lambert, according to Finra records.
Hadid, who focuses on the food and beverage industry, joined Credit Suisse in 2010, and before that, worked at Citigroup Inc., Finra records show.
Staccoli joined Credit Suisse in 2014 and previously worked at JPMorgan Chase & Co. and Fox-Pitt Kelton, his LinkedIn profile shows.
Credit Suisse is offering retention bonuses to some managing directors and other senior staff in the investment bank, an attempt to stem a brain drain spurred in part by uncertainty about future pay due to the bank’s losses from the implosion of Archegos, Bloomberg News reported earlier Wednesday.
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