Walsh joining Credit Suisse in November as an MD in Lev Fin
LONDON, Sept 2 (IFR) - Mark Walsh will join Credit Suisse in November as an managing director in the EMEA leveraged finance and sponsors group, a spokesman for the bank confirmed on Monday.
It emerged on Friday that Mark Walsh had left his role as co-head of European leveraged finance and acquisition finance at Morgan Stanley, and several market sources indicated that Walsh would be joining his former employer Credit Suisse.
Walsh left Credit Suisse for Morgan Stanley in 2005.
Credit Suisse confirmed on Monday that Walsh is returning to the bank after his eight year stint at Morgan Stanley, and he will focus on the corporate leveraged finance sector.
Walsh will report to Mathew Cestar and Didier Denat, who are co-heads of the EMEA leveraged finance and sponsors group.
Matt Naber, who was co-head of the European leveraged finance and acquisition finance at Morgan Stanley along with Walsh, will now become sole head of the group.
Market sources say that Walsh's departure will be a huge blow for the US bank's European leveraged finance business, particularly as it follows other high profile departures.
"Morgan Stanley has lost a lot of people in the engine room of origination and syndicate over the last 6 months or so", said one high yield banker.
Most notably, James Yu, a managing director in the leveraged and acquisition finance team left the bank earlier this year. Yu joined Swedish private equity firm EQT, and used to work closely with Walsh.
Yu's departure did coincide with the hiring of Yannick Perreve, however, a major coup for the bank. Morgan Stanley poached Perreve from Citigroup, where he had worked for 16 years, as a managing director. Perreve also brought along Emanuela Cisini as an executive director.
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