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Credit Suisse MD decamps to the public sector

Credit Suisse’s refugees have shown up in all sorts of places (they’re in high enough demand that they’re even tilting the hiring market). But some of the outliers are migrating out to a distant zone - the public sector.

One of those refugees is Raquel Sanchez. Sanchez was co-head of Credit Suisse’s portfolio management group, which she joined back in 2007 from TIAA, a private provider of pensions for teachers, academics, government employees, and a few other career paths. It might be a convenient bit of work experience; she recently joined the New York State Insurance Fund to be its Chief Investment Credit Officer.

She’s far from the only banker at the fund, but she’s almost definitely the most senior – the only person that comes close is Margarita Genis, a portfolio manager and former Merrill Lynch (and UBS) director in RMBS (Residential, Mortgage-Based Securities) structuring.

Although it's technically a government entity, the New York State Insurance fund is actually a big deal. According to its most recent annual report, it has $22bn of assets under management and runs some very good mindfulness programs, so Sanchez may have fallen on her feet.  

Credit Suisse’s former people have shown up at hedge funds and private equity funds, as well as the more expected destinations such as rival banks. Sadly (for some of them), not many have actually ended up at Credit Suisse’s new overlord – UBS.

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AUTHORZeno Toulon

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