Credit Suisse is rebuilding its London equity research team. And it's said to be paying more in the process.
The Swiss bank is understood to have recruited Adithya Metuku, a technology media and telecoms (TMT) analyst who spent nine years at Bank of America to its London team. Metuku, who has been on gardening leave, arrives on Monday.
Credit Suisse declined to comment. The new hire comes after Credit Suisse lost various members of its technology research team, including Charlie Brennan who went to Jefferies in May and Achal Sultania, a hardware researcher who went to BlackRock in July. Both were directors at the Swiss bank.
Following the exits, Credit Suisse is understood to have increased salaries in its London equity research team.
As we reported yesterday, Credit Suisse also hired Natasha Brilliant from Citi as head of its EMEA luxury goods team.
Zaki Ahmed, an equity research headhunter at Financial Search Ltd., said equity research hiring has been strong across the board in London in 2021. "Banks are building their equity research teams because IPOs and M&A deals are booming." It's a candidates' market, says Ahmed: "There are so many deals happening that banks don't want to lose research staff and we're seeing a lot of counteroffers."
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