The Credit Suisse division hiring from Deutsche Bank
You might imagine that 9,000 jobs cut (and likely more to come from UBS) would mean Credit Suisse isn’t hiring, but that’s not true. There’s one place where new talent is still needed, and that’s the Non-Core Unit (NCU).
Credit Suisse has just added a managing director to its team in London - Sujaykumar Bedekar. He joins after over 15 years with Deutsche Bank, where was most recently an MD in the Capital Release Unit (CRU), which has the same purpose as the NCU (selling off unwanted assets).
Deutsche’s former head of the Capital Release Unit, Louise Kitchen, joined Credit Suisse in the same role at the end of last year. Between her, Bedekar, and Tom Nyiro, Credit Suisse has an entire roster of ex-Deutsche Bank seniors leading its asset sell-off.
Whether that’s good for the bank or not is up for debate. Kitchen “had a tough job and did it very well," one insider told us, describing her as both "respected and feared."
UBS’ CEO, Sergio Ermotti, has already made it clear that the bank does not intend to rely on government support, Bloomberg reported, meaning that the non-core unit will be under pressure to sell off Credit Suisse’s assets at a profit, incentivized by performance-related bonuses. That could explain why so many of Deutsche Bank’s former CRU-team are interested in the whole Swiss affair.
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