Credit Suisse Spends to Boost Booming Energy Team Amid Cutbacks
- Swiss bank’s energy bankers brought $293M in fees last year
- Team expects uptick in IPOs by U.S. oilfield services firms
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Credit Suisse Group AG, two years into a belt-tightening turnaround plan, splurged a bit last month in Texas.
While other big banks coughed up to attend the CERAWeek by IHS Markit conference, the energy industry’s biggest annual confab, the Swiss lender was the only one that officially sponsored the show in Houston. It shelled out a few hundred thousand dollars, scoring a hospitality suite for schmoozing executives as well as a choice panelist seat on day one of the conference.