Credit Suisse Loses Two Bankers to Rivals RBC, Evercore
(Bloomberg) -- Credit Suisse Group AG bankers Ram Amarnath and Ben Eldredge have resigned to join rival firms, the latest in a slew of departures following the company’s involvement in costly scandals.
Amarnath, a Toronto-based managing director, is joining RBC Capital Markets while New York-based Eldredge is going to Evercore Inc. as a senior managing director and partner, according to people with knowledge of the matter who asked not to be identified discussing private information.
Eldredge joined Credit Suisse in 2016 from Citigroup Inc. and was most recently the bank’s global head of basic materials and distribution, one of the people said. He will start later this year at Evercore, overseeing relationships with clients in sectors such as building products, building materials, industrials distribution and chemicals, the person added.
Amarnath will be a vice chairman at RBC, overseeing relationships with clients in sectors including financial sponsors, industrials and technology, the people said. Amarnath, who starts at RBC in the new year, had been Canadian head of investment banking and capital markets for Credit Suisse since 2019. He joined the Zurich-based bank after leaving Morgan Stanley in 2016.
Spokesmen for Credit Suisse, RBC and Evercore declined to comment.
Credit Suisse has experienced dozens of senior defections amid concerns about future compensation after the bank disclosed large losses from its involvement in scandals featuring Archegos Capital Management and Greensill Capital.
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