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Credit Suisse's Investment Bank Chief Poised To Depart: Report

  • Credit Suisse Group AG’s (NYSE: CS) investment bank chief Christian Meissner is set to leave the company in the coming weeks.

  • An announcement is expected on October 27, alongside the bank’s strategic review.

  • Meissner’s departure would be the latest in a string of exits at the bank.

  • Christian Meissner is looking at options, including starting his advisory firm or joining another institution next year, Bloomberg reported.

  • Related: Credit Suisse Settles Case Related To Residential Mortgage-Backed Securities.

  • Meissner joined Credit Suisse in 2020 to co-run a newly created group connecting clients of the wealth management unit with investment-banking services.

  • He took over as Credit Suisse’s investment bank chief in 2021 in the wake of the $5 billion hit from the collapse of Archegos Capital Management.

  • The Swiss bank has already drawn interest from Apollo Global Management Inc and Mizuho Financial Group Inc for the securitized-products business in the investment bank.

  • Price Action: CS shares are up 3.87% at $4.55 during the premarket session on the last check Monday.

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