Credit Suisse MDs are leaving UBS for curious alternatives
A lot of ex-Credit Suisse people don’t feel at home at UBS. That and the wholesales layoffs make leaving the bank a logical proposition – but their destinations appear increasingly bizarre.
Get Morning Coffee ☕ in your inbox. Sign up here.
Dirk Hentschel joined Commerzbank this week as a managing director (MD) in its structured solutions team, based in London. He joined the German bank from UBS, where he was for a year and a half; he formed part of the bank’s inheritance from cross-town rival Credit Suisse, where he had spent 9 years and was made an MD in 2019.
Hentschel’s position at Commerzbank might seem like a fresh start, but he’ll soon enough be surrounded by familiar faces. Commerzbank is currently subject to an ongoing and hostile takeover attempt from UniCredit – a bank led by the swashbuckling Andrea Orcel, not only himself a former UBS investment banking kingpin but one that surrounds himself with UBS veterans.
Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, WhatsApp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email editortips@efinancialcareers.com. Signal also available.
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)
