Deck the Hall with a new job
Christmas may be upon us, but that hasn't prevented a late flurry of people moves in investment banking. Credit Suisse has hired Deutsche Bank's head of corporate broking: Matt Hall is moving over to become vice chairman of UK investment banking.
Hall previously worked in Credit Suisse's corporate broking team.
It is another departure from Deutsche's investment banking and broking team, following, for example, corporate finance chief Adam Bagshaw and equity capital markets banker Ed Sankey joining HSBC. Deutsche has appointed Neil Collingridge and Charles Wilkinson as co-heads of corporate broking following Hall's departure.
Credit Suisse has also hired Gaurav Arora for its emerging markets sales team.
And it held an investor day last week, where it said the investment bank was well placed for where the market is heading after the coronavirus pandemic.
In the first nine months of this year, the investment bank made 18% more in net revenues than in the equivalent period last year, but this lags a 28% gain across a dozen top investment banks as measured by business intelligence firm Coalition Greenwich.
However, the Swiss bank said it was "well positioned" for the aftermath of the crisis. M&A has been muted this year, but the bank's outlook for the revenue pool incorporates a recovery here. Credit Suisse said it was in the top five for announced M&A for this year-to-date, according to Dealogic. It also said the outlook includes a shift towards leveraged loans and away from investment grade debt capital markets: in institutional loans, Dealogic data places it second year-to-date, it said.
Meanwhile, Citi has appointed Peter Kimpel as head of banking, capital markets and advisory (BCMA) for Germany and Austria.
Kimpel joins from Barclays, where he was head of banking for Germany, Austria and Switzerland, and country manager in Germany.
Close observers of the European tech scene may recall that Kimpel spent four years as chief financial officer of Rocket Internet, a technology incubator and investor. He helped found Rocket, which has provided a flow of investment banking business, selling parts of businesses including HelloFresh, Delivery Hero and Zalando.
At Citi, Kimpel takes over from Stefan Wintels, who will concentrate on other responsibilities, including being global BCMA co-head of FIG.
Over at HSBC, Peter Enns, global co-head of advisory and investment banking coverage, is leaving in the first quarter of next year to take up a senior executive position outside of banking. And someone else who has turned his back on banking is Nick Jansa, former co-head of corporate finance EMEA and co-head of leveraged debt capital markets at Deutsche Bank.
Jansa is joining Ontario Teachers’ Pension Plan Board as senior managing director in EMEA, running investment activities and portfolio management in the region. He left Deutsche late last year.