Credit Suisse M&a boss DeNunzio joins Wells Fargo

Longtime credit score Suisse institution AG (CSGN.S) investment banker David DeNunzio is leaving the Swiss bank to emerge as international head of mergers and acquisitions (M&A) at Wells Fargo & Co (WFC.N), according to human beings familiar with the problem.

DeNunzio was previously the global chairman of M&A at credit score Suisse.

At Wells Fargo, DeNunzio will partner with Sam Farnham, an investment banker who will be promoted to grow to be head of M&A within the Americas, the human beings delivered, requesting no longer to be named because the movements have now not but been announced.

Farnham turned into formerly head of center market funding banking. John Laughlin, the previous head of M&A, will become a vp of M&A, in line with the human beings.

Representatives from Wells Fargo and credit Suisse declined to comment. Bloomberg first reported the news on Friday.

DeNunzio labored at credit Suisse for extra than 25 years and had been international chairman of M&A seeing that 2012. He joined the M&a collection of the primary Boston Corp in 1989, a yr earlier than it turned into merged into credit Suisse, after nine years at Kidder, Peabody & Co.

Wells Fargo, a San Francisco-based lender known for its retail banking commercial enterprise, is a tremendously small player in investment banking as compared to other U.S. giants JPMorgan Chase & Co, Citigroup Inc and bank of america Corp.

it is bulking up its exercise, but, and has began to land larger deals. In March, Wells Fargo turned into named sole adviser to TransCanada Corp on its acquisition of Columbia Pipeline organization, a deal really worth $13 billion inclusive of debt, placing it on track for its biggest costs from a single deal given that as a minimum 2000, in line with statistics from Thomson Reuters and Freeman Consulting offerings.

credit score Suisse has visible numerous bankers leave in current months. remaining month it misplaced a coping with director in the big apple who went to Goldman Sachs group Inc (GS.N), five bankers in San Francisco who joined Jefferies LLC and two in Chicago who were employed at Macquarie group Ltd (MQG.AX).

credit Suisse has additionally hired several funding bankers, including Marco Chisari and Haidee Lee, who start in July, and Ray Raimondi who starts in August. Chisari will recognition on generation M&A, Lee can be head of sellside M&A Americas and Raimondi could be head of worldwide industrials M&A.