Credit Suisse MD who quit said to be returning to a big job at UBS
The word in Zurich is that a managing director who left the bank a few months ago is making a comeback, at UBS.
Yves-Alain Sommerhalder spent two decades at Credit Suisse, where he was latterly a managing director in Credit Suisse Global Wealth Management (GWM)/ the investment bank.
Sommerhalder left Credit Suisse at the start of the year and said he planned to spend the first few months of 2023, "slowly skiing, reading and doing some online courses." - "Ultimately would like to use this period to chill, relax and recharge my batteries as well as learn something new," he added on LinkedIn, saying that his long term intention was to "have another 20 great years having fun, learning and meeting interesting people."
Those plans appear to have been disrupted by Credit Suisse's demise and by UBS's assignation as its saviour.
Sommerhalder, who is understood to be close to Iqbal Khan, head of UBS’s wealth management business, may have planned to join UBS anyway. It’s now thought, however, that he may be returning to work on the integration of the two banks.
UBS didn’t immediately respond to a request to comment on the claims, which are widespread among senior staff in Switzerland. Sommerhalder, who is thought to be independently wealthy, had a mixed reputation at Credit Suisse. His long career at the bank included founding a discontinued business called Credit Suisse Solution Partners, which provided investment banking services to wealth clients.
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