By Scott Murdoch and Melanie Burton
SYDNEY (Reuters) – Credit Suisse’s Australian metals and mining team will join boutique local advisory firm Gresham, according to a source familiar with the matter, as the collapsed Swiss bank’s takeover by rival UBS gathers pace.
Managing Director Adam Reid, who joined the bank last year from RBC Capital Markets, will leave alongside Vice President Clarence Fok, junior analyst Ashley Low and associate Kevin Tian.
Reid did not respond to a request for comment from Reuters.
Gresham did not immediately respond to a request for comment, while Credit Suisse and Fok declined to comment. Low and Tian did not respond to requests for comments sent via LinkedIn.
UBS is in the process of integrating Credit Suisse following a Swiss-government orchestrated takeover in March.
Sources told Reuters last month that UBS plans to retain only a small number of Credit Suisse senior bankers with strong client relationships.
Reid was head of metals and mining for Credit Suisse in Australia and only joined last July after serving nearly 13 years at RBC, according to his LinkedIn profile.
The new moves were first reported by the Australian Financial Review.
(Reporting by Scott Murdoch in Sydney and Melanie Burton in Melbourne; Editing by Sherry Jacob-Phillips)
