The Spanish-based bank has been hiring dozens of Credit Suisse employees. Now the former co-head of its investment banking business appears to be joining them.
Santander seems to continuing its worldwide recruiting offensive. It is aimed at reaching its ambitious investment banking targets by expanding its European as well as its North and Latin American client networks.
Even though many other banks are cutting jobs right now, Santander has already made and continues to make top hires from its European and American competitors.
High Targets
The Iberian institute has hired dozens of former Credit Suisse employees while budgeting $250 million dollars to build and expand its investment bank.
Now the Spaniards appear to have garnered David Miller, the former Credit Suisse investment banking co-head, according to the «Financial Times» on Friday (paywall). According to the newspaper, Miller is expected to become the vice chairman of the corporate and investment bank of the New York branch, reporting to the overall José Linares from January 2024.
Half of all Hires
Bank Santander, not considered an investment banking industry heavyweight, has hired over 100 bankers this year, mostly in the US. About half of them come from Credit Suisse, with many of them recommended by Hector Grisi, who was appointed chief executive at the start of the year after having worked at Credit Suisse for 18 years.
Miller joined what was once Switzerland's second-largest bank in 1997 and he was one of the few top executives whose departures were announced just a few hours after UBS announced the conclusion of the integration of Credit Suisse in June.
