Credit Suisse is poaching a Deutsche Bank investment banker to run its business in Australia. 

The Swiss bank is hiring Richard Gibb, Deutsche Bank's head of corporate finance in Asia Pacific, to run its business in Australia from October, according to «AFR» reports (behind paywall). Gibb will replace John Knox, a Credit Suisse veteran who has held the top Aussie job since 2015.

«I look forward to having a strong talent of Richard’s caliber join our Asia Pacific leadership team and continue to build on the success of our Australia business,» said Helman Sitohang, CEO of Credit Suisse, Asia Pacific. «I would like to thank John [Knox] for his various contributions to Credit Suisse over the last 24 years. He leaves with our best wishes for the future,» he added.

Investment Banking Chops

Gibbs will oversee Australia’s full franchise across investment banking and capital markets, private banking, markets, and financing. His 30-year securities career includes stints at Merril Lynch, Bankers Trust and Westpac in Hong Kong, New York, and Sydney.

He is a ten-year veteran of the German lender, who was global head of financial institutions in New York before heading to Asia. Knox is expected to leave the bank at the end of the year.