Credit Suisse names new Chicago co-head after banker departure

NEW YORK Thu May 23, 2013 4:55pm EDT

NEW YORK May 23 (Reuters) - Credit Suisse Group has named Jeff Douthit as new co-head of its investment banking department in Chicago, according to an internal memo to staff that was reviewed by Reuters.

Douthit, global head of business and consumer services for Credit Suisse, took the role after senior industrial banker James Nappo left the bank at the end of April to join Jefferies Group, people familiar with the matter said.

The sources asked not to be named because the matter is not public.

Douthit will run the Chicago investment banking department along with Todd Noffke, the memo said. A Credit Suisse spokesman confirmed the contents of the memo as well as the departure of Nappo.

Nappo previously ran Credit Suisse's diversified industrial business and also advised alternative energy companies.

Credit Suisse's bankers in Chicago have recently advised the City of Chicago on the potential lease of Midway Airport and Apollo Global Management on its acquisition of McGraw-Hill Education. They also worked on financing the Carlyle Group's acquisition of DuPont's performance coatings business.

Jefferies declined to comment.