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Credit Suisse Australia has worked to rebuild its investment bank after overseas scandals hurt the firm’s standings, but they are surplus to requirements at UBS.
Credit Suisse was rocked by a near 30 per cent drop in its shares today, prompting the Swiss regulator to pledge support for the lender.
Joel Chalhoub joins the Swiss bank, which has snared a handful of rainmakers in the last two years, but the spectre of staggered bonuses hang over the Street.
Credit Suisse has named Tim Usasz to head of equities syndicate for Australia, after Ian Arnold left the role for Jarden’s Melbourne office last week.