ZURICH (Reuters) – Credit Suisse’s global co-head of banking and EMEA co-head of investment banking and capital markets Jens Welter is leaving to join Citigroup, in a blow to the Swiss bank as it prepares for a major restructuring.
Veteran Credit Suisse banker Welter, who was appointed to the role at Switzerland’s second-largest lender in January, will join Citi in December as its co-head of EMEA Banking, Capital Markets and Advisory, Citigroup said in a statement on Tuesday.
Credit Suisse, which is due to reveal details of its strategy review on Oct. 27, was not immediately available for comment.
Reuters reported last week that Credit Suisse is sounding out investors for fresh cash as it attempts a radical overhaul of its investment bank.
(Reporting by Silke Koltrowitz and Oliver Hirt; Editing by Alexander Smith)
