Deutsche Bank's Former Head of M & A Henrik Aslaksen to Join Credit Suisse
April 20 2016 - 9:54AM
Dow Jones News
By Jenny Strasburg
Deutsche Bank AG's former global head of mergers and
acquisitions, Henrik Aslaksen, is joining Credit Suisse Group AG in
a senior investment-banking role focused on the Swiss bank's
biggest clients across the globe, according to an employee memo
Wednesday.
Mr. Aslaksen, who left Deutsche Bank last summer after 13 years,
will be a London-based managing director at Credit Suisse, with the
title of head of strategic client coverage, according to the memo
from James Amine, head of Credit Suisse's investment-banking and
capital-markets division.
Mr. Aslaksen will start the job next week. A Credit Suisse
spokeswoman confirmed the contents of the memo, which was also
signed by Marisa Drew and Mark Echlin, co-heads of the European
investment bank.
Deutsche Bank has not so far named a new global head of mergers
and acquisitions since announcing Mr. Aslaksen's departure
internally in June 2015, though people close to the German bank
said an announcement is expected soon. A spokesman didn't
immediately comment.
Both Deutsche Bank and Credit Suisse are undergoing complex
reorganizations and cutting their overall workforce under new chief
executives who took over last year. Both lenders have restructured
their investment-banking and trading divisions and struggled in
both areas during difficult market conditions.
Under Chief Executive Tidjane Thiam, Credit Suisse has said it
is investing in core deal-advisory and capital-markets businesses
overseen by Mr. Amine as the bank accelerates a pull-back in its
trading unit. The trading unit has suffered hundreds of millions of
dollars in losses from hard-to-sell positions in recent months,
weighing on Credit Suisse shares.
Wednesday's memo said Mr. Aslaksen will be involved in Credit
Suisse's "most significant strategic transactions," working with
bankers across all industries and with wealthy clients whose
relationships overlap with the deal-making business. He'll serve on
the European and global investment-bank operating committees.
Write to Jenny Strasburg at jenny.strasburg@wsj.com
(END) Dow Jones Newswires
April 20, 2016 09:39 ET (13:39 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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