Bloomberg

(Bloomberg) -- Credit Suisse Group AG, the lender overhauling its investment banking unit, hired ex-Deutsche Bank AG executive Henrik Aslaksen to handle some of its biggest clients.

Aslaksen, 52, will be head of “strategic client coverage” at the investment bank and capital markets unit for Europe, the Middle East and Africa, according to a Credit Suisse memo obtained by Bloomberg News. Vanessa Neill, a spokeswoman for the bank in London, confirmed the contents.

Credit Suisse Chief Executive Officer Tidjane Thiam is seeking to invest in the division that handles mergers and acquisitions and underwriting for clients as part of a wider overhaul designed to move the lender away from risky trading activities that consume capital. While the IBCM division has “industry-leading” returns, it has been losing market share, Jim Amine, who’s in charge of the business, said in October.

“Henrik will work with many of the bank’s most important global clients alongside our existing teams, and bring his extensive wealth of advisory experience to bear on our most significant strategic transactions,” Amine said in the memo signed along with Marisa Drew and Mark Echlin, co-heads of investment banking for EMEA.

Aslaksen served as Deutsche Bank’s global head of M&A until October. He’ll be based in London and start his new role on April 25, according to the memo. EFinancial News reported the hire earlier on Wednesday.

To contact the reporter on this story: Donal Griffin in London at dgriffin10@bloomberg.net. To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Simone Meier, Michael Shanahan

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