Credit Suisse Group AG’s head of mergers and acquisitions for Southeast Asia is leaving, according to people with knowledge of the matter, adding uncertainty in a region where the bank is among major deal advisers.
(Bloomberg) — Credit Suisse Group AG’s head of mergers and acquisitions for Southeast Asia is leaving, according to people with knowledge of the matter, adding uncertainty in a region where the bank is among major deal advisers.
Lim Zi-Kuan, a Singapore-based veteran of more than 20 years at the Swiss bank, resigned recently, the people said, asking not to be named as the matter is private. Lim, a managing director, also heads M&A for frontier markets, according to his LinkedIn profile.
A spokesperson for Credit Suisse declined to comment.
Read more: Credit Suisse’s Bigger Deals Business a Win for UBS in Asia
His departure comes as the embattled lender grapples with retaining talent following its emergency rescue by UBS Group AG. The deal signed last month may cut the overall workforce by up to 30%, Swiss newspaper SonntagsZeitung reported on Sunday, citing an unidentified senior manager at UBS. Credit Suisse bankers meanwhile have been calling headhunters and rival firms to ask about job opportunities.
In Southeast Asia, Credit Suisse is on seven pending deals worth about $3 billion that were announced in the last 12 months, according to data compiled by Bloomberg. These transactions include Sumitomo Mitsui Financial Group Inc.’s purchase of an additional stake in Philippines-based Rizal Commercial Banking Corp.
–With assistance from Fion Li.
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