Credit Suisse hires new global power and renewables head from BofA

to be the Swiss bank's global head of power and renewables investment banking division, according to an internal memo seen by Reuters.

Dunne most recently served as managing director of global energy and power at Bank of America Merrill Lynch. He will be based in New York and report to Rob Santangelo and Randy Bayless, co-heads of global energy & infrastructure at Credit Suisse, according to the memo.Dunne joined BofA in 2002 after graduating from Harvard Law School and has led over $100 billion of M&A deals, the memo said.

A Credit Suisse spokesperson confirmed the contents of the memo, which was reported by Bloomberg earlier on Tuesday, but declined to comment further. Earlier this year, Credit Suisse suffered a $5.5 billion loss due to its exposure to troubled investment fund Archegos. Concerns about the fallout have led to a string of investment bankers not involved in the debacle jumping ship.Reporting by Niket Nishant in Bengaluru; Editing by Ramakrishnan M.Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.

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