Credit Suisse Credit Head McCarthy, Global Banking's Welter Exit [Business News Network (BNN) (Canada)]
Citigroup, Inc. (C)
Last citigroup, inc. earnings: 4/15 08:00 am
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Source: Business News Network
the firm ahead of a planned restructuring that will attempt to restore the bank to profitability and curb risk. After a 27-year career at the Swiss company, Welter will become the new co-head of European investment banking at Citigroup Inc., alongside Ignacio Gutierrez-Orrantia, according to a memo from the New York-based bank Tuesday. McCarthy has left Zurich-based Credit Suisse to pursue other opportunities, according to a memo seen by Bloomberg. Credit Suisse is in the throes of what is expected to be a major restructuring of the investment bank as new Chief Executive Officer Ulrich Koerner seeks to return the lender to profitability and put an end to a string of scandals. The company also has floated the idea of giving dealmakers an equity stake in their unit, auguring a possible spinout, Bloomberg has reported, and has considered reviving the First Boston branding. David Wah was appointed sole global head of banking, effective immediately, according to a memo to staff from
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