Three More Credit Suisse Bankers Defect to Wells, Santander

Jun 8, 2023

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(Bloomberg) -- Three more Credit Suisse Group AG bankers aren’t waiting around to see how the merger with UBS Group AG turns out.

Two are going to rival Wells Fargo & Co. while a third is headed to Banco Santander SA, according to people familiar with the matter. 

Wells Fargo has hired Allen Cermak as a managing director in financial sponsors in New York, as well as Daniel Moll as managing director in industrials in Chicago, the people said, asking not to be identified because the matter is private.

Banco Santander, which has now poached more than a dozen senior Credit Suisse bankers, has brought in industrials banker Sebastian Barleben in New York, the people said. 

A spokesperson for Wells Fargo confirmed the hires and declined to comment further. Representatives for Santander and Credit Suisse declined to comment. 

Credit Suisse has seen an exodus of bankers ahead of its takeover by UBS, which is scheduled to close imminently. Earlier this week, the bank lost three other bankers to competitors.

Cermak had been at Credit Suisse since 2011, Barleben since 2014 and Moll since 2017, according their LinkedIn profiles. 

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