Credit Suisse - GIG - state of affiars
Hey fellow monkeys,
I came across a couple of Bloomberg articles that state that CS has hired a couple MDs for their Global Industrials Practice (GIG) in the past few days. Those hires include Spyros Svoronos who left CS for Lazard about 8 months ago (lol!!!) and an Building Products MD from Citi.
I looked at the league tables, and CS had a pretty bad start to the year and it seems like the deal flow has dried up across all groups.
Do you all think that CS will be able to rebuild its brand (in particular GIG). Or is the general consensus that there is some lasting damage from Archegos and Greensill?
CS is done. No way to come back. Can’t find it on the first three pages of CIQ (finally found it at #89).
Whoever shitted on me must be CS analysts who are bored tf out due to zero deal flow. My roommate (in one of their “stronger” groups: FSG, LevFin, M&A) literally has not yet gotten on a live deal since joining in July. All he writes on his resume for PE cycle is freaking pitches and pity financing deals on and on.
Svoronos coming back is absolutely huge for the industrials franchise and is quite frankly a great sign for the state of affairs at the investment bank as a whole. I’m assuming your roommate is in Lev Fin (since the other two groups hardly ever pitch) and probably just hasn’t seen a ton of action because the lev fin markets have cooled off big time the last few months.
CS was also #1 or #2 for LBO loans last year per usual (someone posted the BBG league table on here recently) — still arguably the best sponsors franchise on the street from the junior perspective.
4 words
“Too big to fail“
also curious on GIG and placements
The only thing damaged at CS it’s its share price. IB had record 2021 and won market share despite the departures. Lots of rehiring at senior banker level.
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