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Credit Suisse Hires Former Citadel Banking Co-Head Stine

Aug. 1 (Bloomberg) -- Credit Suisse Group AG hired Craig Stine, the former co-head of investment banking at Ken Griffin’s Citadel LLC, as it bolsters its roster of bankers advising financial companies.

Stine started today in New York as a vice chairman in the financial institutions group, James Amine, co-head of investment banking, said today in an internal memo that was obtained by Bloomberg News. The memo’s contents were confirmed by Jack Grone, a company spokesman.

“Craig is broadly recognized as one of the most senior global bankers in the specialty finance sector,” Amine wrote, saying he has worked for clients including American Express Co., Capital One Financial Corp., CIT Group Inc., CapitalSource Inc., and SLM Corp.

Stine joined Citadel in 2009 after a 17-year career at Citigroup Inc. and predecessor firms, Amine said.

Timothy Devine, a colleague of Stine’s at Citadel and Citigroup, joined Zurich-based Credit Suisse in Chicago last month, according to records on the website of the Financial Industry Regulatory Authority. He was a managing director at the Citadel banking unit.

Credit Suisse in June hired Alejandro Przygoda, who specializes in insurance clients, from New York-based Greenhill & Co. to be co-head of the global financial institutions group with Ewen Stevenson.

Stine’s departure from Citadel in May was the latest setback to Griffin’s effort, started in 2008, to expand his hedge fund by helping corporate customers issue and trade securities and by advising on mergers and acquisitions.

Rohit D’Souza, whom Griffin hired to build the securities unit, left in 2009, and his successor, Patrik Edsparr, was ousted the following year. Todd Kaplan, who preceded Stine and co-head Brian Maier as head of the investment-banking group, left in 2010.

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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