Credit Suisse Group AG has lost its global head of strategic shareholder advisory as a months-long wave of senior departures continues, according to people with knowledge of the matter.
(Bloomberg) — Credit Suisse Group AG has lost its global head of strategic shareholder advisory as a months-long wave of senior departures continues, according to people with knowledge of the matter.
Chris Ludwig, a managing director specializing in activism defense, will join Barclays Plc and work alongside Jim Rossman, who joined from Lazard Ltd. last year, the people said, asking not to be identified discussing private information.
Representatives for Credit Suisse and Barclays didn’t immediately respond to requests for comment.Â
Ludwig joined the Swiss bank in 2013, according to Finra records. He advised Rio Tinto Plc in its acquisition of a 49% stake Turquoise Hill Resources Ltd. as well as Taylor Wimpey Plc’s against activist Elliott Investment Management. Â
Credit Suisse, which is in the process of separating its investment-banking unit into First Boston, has seen senior departures amid the restructuring. It had delayed some employees’ bonus payments this year, Bloomberg News has reported.
Senior leaders at First Boston will own as much as 20% of the bank’s equity ownership in the form of restricted share units, Credit Suisse Chief Executive Officer Ulrich Koerner said on Tuesday during an interview with Bloomberg TV.
First Boston is expected to become a standalone public company by 2025, Koerner said.
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