Credit Suisse Appoints Deutsche Executive to Lead Europe M&A

By Jenny Strasburg 

Credit Suisse Group AG has hired senior natural-resources banking head Cathal Deasy from rival Deutsche Bank AG to oversee the Swiss bank's European mergers and acquisitions business, according to an internal memo.

Mr. Deasy will join Credit Suisse in October and be based in London, according to the Wednesday-night memo. Its contents were confirmed by a bank spokeswoman.

He joined Deutsche Bank in 2007 and has been its head of deal making across the sector group that includes metals, mining, utilities, and oil and gas. He advised on the Canada Pension Plan Investment Board's $2.5 billion acquisition this year of a 40% stake in the agriculture business of Glencore PLC, among other multibillion-dollar transactions, according to the memo, signed by senior Credit Suisse investment-bank executives.

Credit Suisse is investing in its deal-advisory and capital-markets businesses as part of a companywide restructuring announced last year. The lender said it doubled its global merger revenues in the first quarter from the same period a year ago.

In March, Credit Suisse's longtime head of mergers and acquisitions for Europe, the Middle East and Africa, David Livingstone, left the bank to return home to Australia and joined Citigroup Inc.

Write to Jenny Strasburg at [e-mail]

(END) Dow Jones Newswires

July 13, 2016 18:40 ET (22:40 GMT)

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