Credit Suisse Group AG, Switzerland’s biggest bank by market value, named Boon Sim global head of mergers and acquisitions, a role previously held by Marc Granetz.
Sim, 47, will be replaced as head of Americas M&A by Andrew Lipsky, the bank said in an internal memo today. The contents of the document were confirmed by a Credit Suisse spokeswoman in London. Granetz, who was co-head of the global investment banking department for five years as well as head of M&A worldwide, will become the division’s chairman at the end of the year.
Zurich-based Credit Suisse ranks ninth in global M&A this year, down from eighth place in 2008. The bank is helping to finance Kraft Foods Inc. on its £10.5 billion ($16.9 billion) hostile bid for Cadbury Plc, the British maker of Dairy Milk chocolate, and also advised Blackrock Inc on its $15.2 billion purchase of Barclays Plc’s investment unit, which was completed this month.
David Livingstone, head of European mergers, will return to his native Australia as chief executive officer of Credit Suisse Australia. He will be replaced by Giuseppe Monarchi, co-head of European technology, media and telecommunications investment banking in London, according to the memo.
