The media, citing informed sources, report that the head of the Credit Suisse Group AG group of financial institutions in Southeast Asia, Nick Thursby, is joining Deutsche Bank AG.
Thursby will lead the investment banking division of the German lender for FIG transactions in the region. This information was provided on condition of anonymity because the data is private. Media sources claim that the Singaporean banker will start working in a new post in the coming months, and the exact timing is still unknown.
Thursby will handle mergers and acquisitions, and the first public offerings of financial institutions in Southeast Asia. The history of a banker’s career at Credit Suisse consists of two parts. The first work experience in a Swiss financial institution ended in 2018 after 8 years of activity. Thursby then worked at HSBC Holdings Plc. In 2022, the banker returned to the Swiss bank. The relevant information is contained in Thursby’s LinkedIn profile.
Representatives of Credit Suisse and Deutsche Bank did not comment on reports about the expected personnel appointment.
After the purchase of a competitor by UBS Group AG for $ 3.2 billion, several financial partners of Credit Suisse sold off its assets due to a drop in confidence. In the context of this situation, Deutsche Bank has activated its profit strategy. The financial institution began to poach clients of the failed Swiss lender and employees of this bank specializing in capital management and investment activities. The investment team includes the former head of mergers and acquisitions at Credit Suisse in Southeast Asia Lim Tzu-Kuan and Managing Director Rui Wang.
Deutsche Bank Chief Financial Officer James von Moltke said the German bank is a natural home for some customer relationships. After an abstract statement about the organic fitness of a financial institution for successful activity in the banking industry, he noted the intention to take advantage of the current situation with the Swiss lender.
As we have reported earlier, Credit Suisse Reveals Scale of Bank’s Bankruptcy.