After a year hit by losses, scandals, sackings and restructuring, there is finally something going right at Credit Suisse’s investment bank.
The division has quietly risen to fourth place in the global M&A league tables after advising on the three biggest deals in the world so far this year. And it has been winning new talent to replace those who left as the Swiss bank’s focuses on wealth management over investment banking in its 2015 restructuring.
“The beginning of the year was seriously a disaster; it felt like everything was falling apart as people kept on leaving,” says a Credit Suisse M&A banker in New York, who asked to speak anonymously.
“It took a while for Tidjane [Thiam, Credit Suisse chief executive] and the rest of the top management to convince us that Credit Suisse’s advisory business had a future … Things look brighter now. Not perfect but brighter.”
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.