On November 8, 2017, a Credit Suisse logo is seen on a skyscraper in Geneva, Switzerland. Denis Balibouse/Denis Balibouse/Denis Balibouse/Denis Balibous Reuters, LONDON, July 6 – Credit Suisse (CSGN.S) has hired a Morgan Stanley (MS.N) banker to join its global industrials business in a senior capacity, as the scandal-plagued Swiss bank looks to rebuild its investment banking team after a slew of recent departures. According to a document seen by Reuters and confirmed by a Credit Suisse representative, Kyle Berry will join the global industrial group on July 19 as a managing director, focusing on business services across Europe, the Middle East, and Africa. The hiring comes as the country’s second-largest bank tries to keep employees after the Greensill Capital and Archegos Capital Management scandals slashed its stock price and prompted a wave of departures. find out more Credit Suisse lost at least 15 bankers in the United States, including Stephanie Ruiz, a managing director in the global industrials investment banking department who left to JPMorgan (JPM.N) in June. find out more Berry, an 11-year Morgan Stanley veteran, has worked in London and Johannesburg, where he began his career in 2006 as part of Nedbank’s (NEDJ.J) corporate finance and equity derivatives division. He recently represented a variety of business services clients, including Verisure (VERIS.UL), a Swedish alarm company, Compass Group (CPG.L), and Allied Universal, a private security agency in the United States. He’ll be based in London, reporting to Gregory Dalle and Pierre Lescastereyres, the bank’s co-heads of the EMEA industrials and energy franchise. Credit Suisse wanted to build on “the positive momentum of 2020,” when a slew of high-profile industry deals were announced, including Allied Universal’s 3.8 billion-pound ($5.26 billion) takeover of security firm G4S and Swiss inspections group SGS’s purchase of Synlab’s (SYAB.DE) analytics and services unit (SGSN.S). (1 dollar = 0.7228 pound) Pamela Barbaglia in London contributed to this report.
Matthew Lewis edited the piece.
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