Credit Suisse Hires Przygoda to Co-Head Financials Banking
Przygoda, 43, will work in New York and share the job with the current head of financial institutions, Ewen Stevenson in London, Zurich-based Credit Suisse said today in an internal memo that was confirmed by Duncan King, a spokesman in New York.
Credit Suisse is adding a banker with a roster of insurance-company clients to help run the unit, which also provides advice and financing for banks, exchanges and asset managers. Credit Suisse earned the third-biggest amount of investment-banking fees from financial clients this year, it said in the memo, citing data provider Dealogic.
“He has developed deep relationships with top executives of the key players in the industry,” the co-heads of investment banking, James Amine and Luigi de Vecchi, said in the memo.
Przygoda advised the U.S. Treasury Department on the sale of $5.8 billion of its stake in American International Group Inc. (AIG) last month. He also negotiated with Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) for independent directors of Pasadena, California-based Wesco Financial Corp., which agreed in February to sell Berkshire the 19.9 percent of Wesco shares it doesn’t already own for $548 million.
Przygoda, a native of Argentina, attended the University of Pennsylvania’s Wharton School and started his career as an insurance executive, including a stint as chief financial officer of General Re Corp.’s Argentinean subsidiary. He worked at Credit Suisse from 1995 to 2003, then moved to Zurich-based UBS AG (UBSN), Switzerland’s biggest bank, and joined New York-based Greenhill in 2009.
While at Greenhill, Przygoda advised Bermuda-based PartnerRe Ltd. (PRE) on the $2 billion acquisition of Paris Re Holdings Inc. and New York-based Travelers Cos. on the $371 million purchase of a stake in the insurance unit of Brazil’s Parana Banco SA.
Credit Suisse also said today that it hired Fredrik Wraneus in London as co-head of Nordic coverage within the investment-banking unit. He joins from Bank of America Corp. and starts with Credit Suisse on June 6, the bank said in a separate memo to staff.
Credit Suisse ranks behind Goldman Sachs Group Inc. and Morgan Stanley in advising on mergers and acquisitions announced so far this year, according to data compiled by Bloomberg, based on the dollar value of the transactions.