Credit Suisse

Former Credit Suisse banker joins after senior departures

◆ Deal precedes redemption of AT1 and exacerbates shortage of paper in the currency ◆ Issuer locks in ‘very good’ arb ◆ HSBC’s third trade this week follows sterling covered and senior bonds

The Swiss bank posted the biggest quarterly profit on record thanks to an accounting gain related to its acquisition of Credit Suisse, but weak performance at its former rival hints at a long road back to growth

Higher rates and name recognition fuelled the tightest corporate print since June

The former Credit Suisse banker will start his new role next week

Imminent half year results will reveal whether the new Swiss bank is a hastily patched monster or a new financial powerhouse

The news comes four months after speculation he was set to leave the bank

The Swiss bank wants to become the leading European corporate finance house in North America after revamping its business, but history suggests this will be a tough target to achieve

Bank debt capital is a hot commodity again across the globe. The AT1 layer, in its current form, has fulfilled its modus operandi

UBS has made a series of sweeping changes to the management of its global investment banking decision as it presses ahead with the integration of Credit Suisse

Bank presses on with swingeing job cuts

UBS has kicked off its first round of job cuts ahead of unveiling the new leadership of its corporate finance business