Nov 14 (Reuters) - John Trousdale, vice chairman of global mergers and acquisitions at Credit Suisse AG, will leave the Swiss bank to join the new advisory firm headed by star investment banker Paul Taubman, according to people familiar with the matter.
The move represents one of Taubman’s biggest hires since he announced last month that he would lead the carve-out of Blackstone Group LP’s advisory arm. The tax-free spin-off is expected sometime in 2015.
New York-based Trousdale, 52, will leave Credit Suisse at the end of January, the people said, requesting anonymity because the matter was not yet public. Trousdale and a spokesman for Credit Suisse declined to comment. Taubman could not be reached for comment.
Trousdale joined the Swiss bank in 2003 and also served as a former co-head of the media and telecoms M&A group. He joined Credit Suisse from Merrill Lynch, where he had been a co-head of global media.
Since Taubman left Morgan Stanley in 2012, he has been behind some of the biggest media and telecom mergers, including Comcast’s proposed acquisition of Time Warner Cable and Verizon’s $130 billion deal to buy out Vodafone’s stake in its wireless venture.
In October, Blackstone said it would merge its advisory business into Taubman’s firm, which currently has about a dozen employees. Taubman will be chairman and CEO of the publicly traded company that could be valued at $1 billion to $2 billion, Reuters previously reported.
Combined with Blackstone’s advisory business, PJT Partners will advise companies on mergers and acquisitions as well as debt restructurings. It will also help private equity and other alternative investment funds with their fundraising efforts. (Reporting by Liana B. Baker in New York; Editing by David Gregorio)