Credit Suisse appoints Barclays Managing Director Nacho Moreno

To run its investment banking business in Portugal and Spain, it has hired Credit Suisse A Barclays manager To strengthen its presence in the region as it improved its activities in 2021.

Nacho Morenowhat or what He was responsible for the investment banking franchise in Iberia at BarclaysHe will become Credit Suisse’s head of investment banking and capital markets for the region, according to a memo seen by Reuters confirmed by a spokesperson for Switzerland’s second-largest bank.

Moreno will take over the new position at the end of the summerto replace Wences Bunge, who will continue as Managing Director of Credit Suisse Bank for Spain and Portugal, while who will lead the real estate group of the Swiss bank as global head.

Moreno will report to Jens Haas and Giuseppe Monarchi, who co-led the bank’s coverage in Europe, the Middle East and Africa. He will work closely with Iberia’s Head of Mergers and Acquisitions, Rafael Abateas well as Israel Fernandez del Sol, who joined Credit Suisse last year as co-chair of the Europe, Middle East and Africa group of financial institutions.

Madrid has become a hub for renewable energy operations in Europe, and Credit Suisse Abate has been given a broader role as head of energy and infrastructure mergers and acquisitions across Europe, the Middle East and Africa.

Credit Suisse employs around 500 people in Spain After relocating staff from London as part of a Brexit strategy that makes the Spanish capital a “central location,” according to the memo.

The Swiss bank is undergoing a major restructuring She was fired last year to end a series of scandals that affected her finances and prompted an administrative reshuffle.

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On Thursday, one of its biggest investors, Artisan Partners, said Credit Suisse should begin the search for a new CEO to replace Thomas Gottstein. in the meantime, Rating agency S&P downgraded the group’s credit rating to BBB. On the basis of the deteriorating economic and commercial environment.

Spain was one of the most active European regions in terms of mergers and acquisitions in the first quarter of 2022It ranks fourth after the United Kingdom and France but ahead of Germany, with deals worth $16.5 billion, according to Refinitiv data.

Credit Suisse has advised on a number of notable stock deals and sales in the regionsuch as the EQT purchase of Spanish solar developer Solarpack, the sale of Portuguese plastic packaging maker Logoplaste to the Ontario Teachers’ Retirement Plan Board and Acciona Energia in Madrid last year.

In 2021, he was the eighth most active advisor in Spainworking on deals totaling $12.4 billion, according to Refinitiv’s league tables, reclaiming the 35th place it held in 2020.

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