C Suisse hires ex-Deutsche Bank executive to handle big clients

Credit Suisse, the lender overhauling its investment banking unit, hired ex-Deutsche Bank executive Henrik Aslaksen to handle some of its biggest clients.

Bloomberg News reports that Aslaksen, 52, will be head of “strategic client coverage” at the investment bank and capital markets unit for Europe, the Middle East and Africa, according to a Credit Suisse memo obtained by Bloomberg News. Vanessa Neill, a spokeswoman for the bank in London, confirmed the contents.

Credit Suisse Chief Executive Officer Tidjane Thiam is seeking to invest in the division that handles mergers and acquisitions and underwriting for clients as part of a wider overhaul designed to move the lender away from risky trading activities that consume capital. While the IBCM division has “industry-leading” returns, it has been losing market share, Jim Amine, who’s in charge of the business, said in October.

To access the complete Bloomberg News article hit the link below:

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