Finance

Credit Suisse hires Tarda from HSBC to head fintech investment banking

Credit Suisse has hired a new global co-head of fintech investment banking as the Swiss bank looks to rebuild its bench of senior dealmakers after a spate of exits.

Orazio Tarda will join Credit Suisse from HSBC in November, according to an internal memo seen by Financial News and confirmed by a bank spokesperson.

Tarda spent 16 years at the UK lender, latterly as global head of fintech investment banking, a role he has held since 2019.

He will report into Giuseppe Monarchi, Credit Suisse’s global co-head of telecoms media and technology group, and Brian Gudofsky, its global head of technology who is also co-head of fintech investment banking.

READ Credit Suisse offers pay hikes to keep senior bankers as more depart in wake of Archegos

Tarda will work closely with Martin Blanquart, head of TMT Emea, and Mathieu Salas, vice chairman of its financial institutions group.

The Swiss bank is rebuilding its financial institutions banking team after around 10 departures in the team globally to rival Jefferies.

The hire comes after around 30 senior departures at Credit Suisse’s investment bank following a $5.5bn hit from the collapse of family office Archegos Capital.

In a call with journalists during its second quarter results on 29 July, Credit Suisse chief executive Thomas Gottstein said staff turnover was “in line with the past seven years”.

READ Credit Suisse’s new risk role seeks to prevent another Archegos

“While we have seen departures, notably in capital markets and advisory in the US, we have been investing in new hires across all major divisions including investment banking an in asset management,” he said.

To contact the author of this story with feedback or news, email Paul Clarke

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