Credit Suisse Group AG hired Imran Khan, an equity analyst from JPMorgan Chase & Co., to head Internet investment banking.
Khan will be a managing director based in San Francisco and start in May, according to an internal memo, which was confirmed by Duncan King, a spokesman for the Swiss bank. He will report to David Wah, global head of technology, and Bryce Lee, head of technology in the Americas, the memo said.
As an analyst, Khan covered Google Inc., EBay Inc., Yahoo! Inc. and Amazon.com Inc. Wall Street firms are competing to win mandates for initial public offerings of Internet companies such as Groupon Inc. and Facebook Inc., amid increasing mergers and acquisitions in the industry.
Credit Suisse is beefing up its technology investment banking team after George Boutros, its former chairman of technology and health care groups in San Francisco, left in April to join Frank Quattrone’s Qatalyst Partners. Boutros was one of Credit Suisse’s top dealmakers in the city and advised on more than 300 transactions, including Sun Microsystems Inc.’s sale to Oracle Corp., Google’s purchase of Youtube and Pixar’s sale to Walt Disney Co.
Khan was the head of JPMorgan’s global Internet research since 2004. His recruitment follows the appointment of Citigroup Inc.’s Mark Simonian as Credit Suisse’s global co-head of telecommunications, media and technology in May.