Credit Suisse’s Carragher, Pierson Promoted to Oversee Americas Financials

Credit Suisse Group AG (CSGN) promoted Neil Carragher and Steven Pierson to jointly run investment banking for financial institutions in the Americas, succeeding Nancy McAllister and Edward Yorke.

Carragher, who joined from Morgan Stanley (MS) in 2006, specializes in advising banks and counts M&T Bank Corp. (MTB), Fifth Third Bancorp (FITB), and BB&T Corp. (BBT) among his clients, Credit Suisse said in a March 18 memorandum obtained by Bloomberg News. Duncan King, a spokesman for Zurich-based Credit Suisse, confirmed the memo’s contents.

Pierson’s clients include Bank of New York Mellon Corp. (BK), State Street Corp. (STT), and BlackRock Inc. (BLK), Credit Suisse said in the memo. He joined in 2007 from Putnam Lovell, a boutique focused on asset-manager clients. Carragher and Pierson are both based in New York. Ewen Stevenson, based in London, oversees the financial-institutions group globally.

McAllister, one of the previous co-heads of the Americas group, plans to leave Credit Suisse, King said. Yorke will remain with the firm.

SNL Financial reported the promotions on March 18.

To contact the reporter on this story: Zachary R. Mider in New York at zmider1@bloomberg.net;

To contact the editor responsible for this story: Jennifer Sondag at jsondag@bloomberg.net.

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