UBS is still adding straggling Credit Suisse MDs
It's nearly six months since UBS finalised its takeover of Credit Suisse and the victorious Swiss bank is still plucking choice morsels of managing directors from its former rival.
The latest Credit Suisse MD to be saved by UBS is Jens Becker. Becker spent over 13 years with Credit Suisse, starting at its Singapore office before switching to New York for the bank. He was part of the 2021 class of MDs, in the global industrials energy & transition M&A team. He'll be slotting into UBS in the same context.
Becker is far from the only Credit Suisse banker staying on at UBS. Although plenty of senior CS bankers left for rivals such as Deutsche Bank and Apollo Global, a significant number have been left in the air by the UBS merger, which was suggested to lead to half of Credit Suisse’s staff being let go from the new entity.
UBS’ first dibs on Credit Suisse’s staff, however, are being made use of. Financial News reported the other week that UBS had picked up 200 senior CS bankers in some of the key sectors that it was lagging behind in, in terms of market presence – namely US investment banking, especially in technology and healthcare banking.
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