Credit Suisse Banking Research Analysts, Traders Are Said to Depart Firm
Five banking analysts and two equity sales people focusing on financial-services firms at Credit Suisse Group AG quit, two people with knowledge of the departures said.
Analysts Guillaume Tiberghien, Jagdeep Kalsi, Santiago Lopez, Andrea Vercellone and Andreas Hakansson have left, as have Colin Hector and Alastair Macintosh, said the people, who declined to be identified because the departures haven’t been made public. Hector and Macintosh worked in specialist sales, sitting on the trading floor and advising clients on the industry.
Sofia Rehman, a spokeswoman for Credit Suisse in London, declined to comment. Colleagues answering the phones of Hector, Macintosh, Tiberghien and Kalsi at Credit Suisse said they had left the firm. The rest weren’t reachable for a comment.
The team at Credit Suisse, Switzerland’s No. 2 bank, came second in Institutional Investor’s 2010 poll for best European banking coverage. The team of analysts also includes Jonathan Pierce, who is staying at the bank in London.
Pierce rates Barclays Plc, HSBC Holdings Plc, Lloyds Banking Group Plc and Standard Chartered Plc “outperform” and has a “neutral” recommendation on Royal Bank of Scotland Group Plc, according to data compiled by Bloomberg.
Credit Suisse and UBS AG had the biggest share of the European equity-trading market earlier this year. Each firm held 11 percent of institutional volume in European stocks, Greenwich Associates said in September.