The Swiss lender poaches a Deutsche Bank veteran, as it bulks up its investment banking unit after a series of departures.
Credit Suisse is hiring Israel Fernandez from Deutsche Bank to co-manage the bank’s financial institutions group (FIG) in Europe, the Middle East and Africa as from November, according to «Reuters», which cited a bank memo.
The Zurich-based lender's investment banking unit suffered a series of departures, following the twin Archegos and Greensill scandals earlier this year. Fernandez will co-manage the group with Julien Lamm. He replaces Armando Rubio-Alvarez, who left for Jefferies according to his LinkedIn profile.
Deutsche Bank Career
Fernandez spent 15 years at Deutsche Bank. He was involved in the merger of Unicaja and Liberbank as well as in Banco Santander’s acquisition of Allianz Popular Holdings. Most recently, he was responsible for the FIG business in Spain.
The Swiss lender has also promoted Gaurav Parkash to head of banks in Europe, Middle East and Africa. He will report to Fernandez and Lamm.
Parkash, has been with Credit Suisse since 2008, and has worked with some of the bank’s biggest FIG clients, including Standard Chartered on its principal finance division sale and with Deutsche Bank on its latest rights issue, the report said.
