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Financials

MOVES-Credit Suisse bulks up with senior FIG hire - memo

LONDON, March 30 (Reuters) - Credit Suisse has hired Patrick Porritt of Bank of America Merrill Lynch as a vice chairman of its Financial Institutions Group (FIG), according to an internal memo seen by Reuters on Wednesday.

Porritt, who formerly headed up FIG for BAML’s Asia Pacific region, will sit in the Swiss lender’s investment banking and capital markets division when he joins the London office from Singapore in April.

A spokeswoman for Credit Suisse confirmed the contents of the memo.

Credit Suisse has been on something of a recruiting drive lately. It has hired Lazard’s global head of retail Jeffrey Cohen, who will become a vice chairman in its retail and consumer products division, based in New York.

The bank has also promoted its EMEA head of asset management, Hamish Summerfield, to head up global asset management within its FIG coverage. (Reporting by Freya Berry; Editing by Ruth Pitchford)

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