Latest banking news, Sept. 15, 2022

Napoleon Elizer
A sign hangs outside the offices of Credit Suisse headquarters in Zurich, Switzerland.

Chris Ratcliffe/Bloomberg

Credit Suisse Group has lost a pair of senior bankers to rivals. Daniel Cavalli, based in New York, is joining Morgan Stanley as a managing director, according to people with knowledge of the matter who asked to not be identified because the details are private. Cavalli led the bank’s financial institutions coverage and mergers and acquisitions groups in Latin America, his LinkedIn profile shows. He joined Credit Suisse in 2000 after two years at Lehman Brothers. Amit Melwani, a managing director covering consumer and retail mergers and acquisitions, is joining Bank of Montreal, people with knowledge of the matter said. Melwani did two stints at the Swiss bank since 2011 and was briefly a director of M&A for Restaurant Brands International Inc.’s Burger King, his LinkedIn profile shows. Representatives for Credit Suisse, Morgan Stanley and BMO declined to comment. The troubled Swiss lender has lost several bankers in recent months to firms including Truist Financial, which hired financial sponsors coverage banker Hayes Smith, and Bank of America, which hired Prescott Johnson for energy and infrastructure dealmaking. It has also offset some losses with hires including Maxence de Gennaro from Lazard. Credit Suisse board members floated the idea of giving senior bankers ownership stakes in the investment banking business, Bloomberg News reported last week. — Crystal Tse and Gillian Tan, Bloomberg News

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