Credit Suisse reshuffles investment bank after senior departure - memos

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Credit Suisse announced a series of staff changes on Tuesday following the departure of the co-head of its European investment banking operation, according to internal memos seen by Reuters and confirmed by a company spokesperson.

Switzerland's national flag flies above a logo of Swiss bank Credit Suisse in front of a branch office in Bern, Switzerland November 29, 2022. REUTERS/Arnd Wiegmannannounced a series of staff changes on Tuesday following the departure of the co-head of its European investment banking operation, according to internal memos seen by Reuters and confirmed by a company spokesperson.

The Swiss bank, in the midst of an overhaul that includes spinning-off its investment bank into a newly re-branded entity, has chosen veterans Giuseppe Monarchi and Steven Geller to take over from Cathal Deasy, who has left the bank just months after being promoted to regional co-head of its Investment Banking & Capital Markets unit.

Monarchi is now sole IBCM head for Europe, the Middle East and Africa , whereas Geller has been named sole global head of M&A. Additionally, William Mansfield, head of EMEA Consumer & Retail M&A, has taken up Deasy's responsibilities as head of EMEA M&A. Deasy's exit, which was first reported by Financial News, is the latest in a string of departures as Credit Suisse embarks on a plan to cut thousands of jobs and shift its focus from investment banking towards more stable wealth management.banker Gen Oba as co-head of IBCM in France, Belgium and Luxembourg.

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