Credit Suisse's shunned equity analysts are heading to the buy side
UBS has been chucking Credit Suisse bankers out of its hull like a ship taking on water. But the people who’ve left aren’t finding any problem finding new digs, given how many of them are showing up elsewhere.
Jean-Baptiste Rolland, for instance, joined Millennium as a long/short equity analyst. He was with Credit Suisse for less than two years as co-head of its European chemical investment research team before leaving for the hedge fund. He spent eight years split across Bank of America and Goldman Sachs before that.
Tim Carswell, meanwhile, is someone we’ve known is leaving CS for a little while now. He ended up as head of investor relations at Lingotto, a new investment management firm owned by the Agnelli family, better known for its investments in Ferrari, Fiat, and, of course, Juventus football club. Even though Lingotto is very new (it was only set up in May this year), Carswell will probably be out of the limelight – the new firm’s chair, former Chancellor of the Exchequer George Osborne, pips him quite significantly on the star power list.
UBS has been letting go of relatively vast chunks of Credit Suisse’s non-retail activities – and that includes some veteran “legends” of the investment bank, such as Michael Swallow. It’s easy to see why they’d be pushed to leave (Credit Suisse failed for a reason, after all) but there might be another reason – insecurity.
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