Credit Suisse’s technology banking team is being picked apart.
The group has lost seven managing directors and one director so far this year, including the bulk of the West Coast tech mergers-and-acquisitions team.
Wally Cheng, a managing director, Jeremy Hux, a managing director, and Christopher Nam, a director, have left the firm in recent months, according to people familiar with the matter.
That’s in addition to the five managing directors who left for Jefferies last week.
Anthony Armstrong, who was a managing director and head of technology in the Americas, left the firm for Morgan Stanley last year, as first reported by The New York Times.
Cheng is joining Morgan Stanley as a managing director and a senior M&A expert in the firm’s Menlo office. His expertise is in semiconductors and hardware.
Nam is joining Mizuho as a managing director and head of the internet banking team. He previously was a director on Credit Suisse’s internet banking team, and worked closely with Imran Khan, the former head of internet banking who joined Snapchat as chief strategy officer in 2014.
Nam was the lead internet banker on Lyft’s $1 billion private placement and on a fundraise for the start-up Handy. Nam also worked on Alibaba’s IPO.
Before leaving Credit Suisse, Jeremy Hux was a managing director and head of clean technology investment banking in San Francisco, according to his LinkedIn profile.
We reported last week that five managing directors left Credit Suisse to join Jefferies’ tech banking team. Here are those:
- Cully Davis is joining Jefferies as a managing director, the head of West Coast technology investment banking, and the vice chairman of equity-capital markets. Davis was previously cohead of the Americas equity-capital markets’ origination group at Credit Suisse.
- Bill Brady is joining as vice chairman of Jefferies and chairman of technology-investment banking. Brady was previously chairman of the global technology-investment banking group at Credit Suisse.
- Steve West is joining as a managing director and global head of software-investment banking. West was previously cohead of software-investment banking at Credit Suisse.
- Cameron Lester is joining as a managing director, the global head of internet-investment banking, and a global cohead of technology-investment banking. Lester was previously head of global internet-investment banking at Credit Suisse.
- John Metz is joining Jefferies as a managing director and global head of enterprise-investment banking. Metz was previously head of global enterprise-technology banking at Credit Suisse.
Business Insider Emails & Alerts
Site highlights each day to your inbox.