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MOVES-Credit Suisse overhauls IBCM top team in Europe
September 18, 2017 / 2:34 PM / 3 months ago

MOVES-Credit Suisse overhauls IBCM top team in Europe

LONDON, Sept 18 (IFR) - Credit Suisse has appointed Mathew Cestar and Jens Welter co-heads of its investment banking and capital markets (IBCM) business in Europe, the Middle East and Africa as part of a raft of changes at the top of the business.

Former IBCM co-head for EMEA Marisa Drew has been appointed head of Credit Suisse’s impact advisory and finance (IAF) department. The new unit will direct and coordinate impact investing, a growing area that aims to create social or environmental change while generating financial return. Drew will report to Credit Suisse CEO Tidjane Thiam.

Mark Echlin will become UK IBCM chairman after more than three years as the other IBCM co-head of EMEA.

Cestar, an experienced leveraged finance banker, will continue to chair Credit Suisse’s credit products commitment and coordinate underwriting activity with the global markets team. Welter keeps his role as co-head of the global consumer products and retail group.

Both will stay in London and report to Jim Amine, chief executive of IBCM, according to a memo to staff from Amine, seen by IFR.

Henrik Aslaksen, who joined Credit Suisse in April 2016 from Deutsche Bank, has been appointed executive chairman of IBCM EMEA, the memo said. It said Aslaksen will work with Cestar and Welter “on strategy, resource prioritisation and client planning.”

Giuseppe Monarchi, who runs media and telecoms in the region, will join the bank’s global leadership team.

Among other changes announced in a series of memos was the appointment of Jonathan Moore as head of global credit products for EMEA. Moore has been co-head of the business with Cestar since 2015 and will now take sole charge. He has been at CS since 2001.

Other changes in credit products in the region included:

-Chris Orr, who is appointed head of European investment grade and emerging markets. He was appointed co-head of investment grade trading in 2013 after joining CS in 2007;

-Jonathan Fletcher, appointed head of EMEA investment grade trading, reporting to Orr.

-Basil Eggenschwyler, appointed head of leveraged finance trading and sector strategy, where he will lead the leveraged finance strategy with Geoff Drayson, who remains head of leveraged finance sales and co-head of EMEA credit sales.

Within global credit products:

-Jeff Cohen, appointed as sole global head of leveraged finance capital markets (LFCM);

-Mark Walsh will join EMEA global credit products LFCM from IBCM, where he was co-head of the leveraged and acquisition finance group in EMEA;

-David Ross is joining Credit Suisse in October to lead the EMEA LFCM group with Walsh. Ross was previously head of leveraged finance capital markets in Europe at Bank of America Merrill Lynch for five years. (Reporting by Steve Slater)

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