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Sometimes, moving out of London because of Brexit is a good thing.

Credit Suisse MD who quit London for Lisbon has landed a major new job at SocGen - in Spain

Francisco Sottomayor was ahead of the pack as a senior trader leaving a big role in London to move to the Continent.

He departed Credit Suisse in April last year, when Brexit was more possibility than reality, for a small investment bank in Portugal called AXIA Ventures Group. Ten months on and he’s landed a major new job at SocGen – in Spain.

Sottomayor was a managing director and head of securities for Portugal and Spain at Credit Suisse in London, where he worked for nearly 16 years. In April last year he departed for an MD role at Axia, but has just moved on again.

He’s now head of global markets for Iberia at Societe Generale, a role that has necessitated a move to Madrid, Spain. Until his recent move to Portugal, Sottomayor spent his entire banking career in London, having started out as an associate at Citi from 1998.

Suffice to say, Sottomayor is unlikely to be the only senior markets professional covering a European market to head away from London after Brexit. Bankers are already now talking about ‘when’ they move to Europe, rather than ‘if’, according to research from recruiters Morgan McKinley.

As we reported last week, Vassilis Karamouzis, the former head of asset finance origination for Southern Europe and head of capital financing for Greece and Cyprus, left the UK for Athens to head up corporate and investment banking for the National Bank of Greece.


Photo: Getty Images

AUTHORPaul Clarke

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