Credit Suisse moving tech banking head Wah to Silicon Valley
NEW YORK (Reuters) - Credit Suisse Group AG (CSGN.VX) is moving the global co-head of its technology, media and telecom group to San Francisco from New York, bolstering its Silicon Valley investment banking presence in anticipation of more deals in the sector, two sources familiar with the move said on Thursday.
David Wah, who is advising private equity firm Silver Lake Partners on the proposed $25 billion deal to take Dell Inc DELL.O private, will remain co-head of the group alongside New York-based Mark Simonian, one of the sources said.
Credit Suisse has been building its Silicon Valley platform over the past two years, moving other bankers, including Anthony Armstrong, co-head of Americas M&A, to its San Francisco office and poaching bankers from rivals.
The Swiss bank ranks No. 1 in global technology initial public offerings for the year to date and has helped lead deals, including Tableau Software Inc (DATA.N) and Silver Spring Networks Inc (SSNI.N). It ranks sixth for worldwide technology M&A, according to Thomson Reuters data.
Besides Silver Lake, Wah has worked on such high-profile deals as advising Alibaba Group ALIAB.UL on its $7.6 billion repurchase of a 20 percent stake in the Chinese internet company from Yahoo Inc (YHOO.O).
(Reporting By Nadia Damouni; Editing by Paritosh Bansal and John Wallace)
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