Veteran investment banker Marco Illy has found a new calling: in the midst of the pandemic, the ex-Credit Suisse heavyweight launched a firm that imports medical supplies produced in Asia.
After missing out on the top Swiss investment banking job at UBS, Marco Illy is resurfacing: the 30-year veteran of Credit Suisse in April launched The Medical Supply Company of Switzerland, or MSCS, according to the Swiss commercial register. The new firm deals in pharmaceutical, medical, and orthopedic products, according to the listing.
MSCS' website lists face masks, latex gloves, test kits, and ventilators among its products. Illy, whose departure from Credit Suisse was mired in an ugly skirmish as finews.com exclusively reported, is listed as president and CEO.
Asian Trading Partner
The company is based in Verbier, a chic ski holiday resort in Valais from which MSCS wants to coordinate the supply of Swiss-quality medical products produced in Asia to countries and organizations around the world. MSCS is partnering with a trading partner in Singapore in order to supply medical supplies quickly, inexpensively, and in scale, according to its website.
The 59-year-old Credit Suisse most recently attempted a takeover of Degroof Petercam (Suisse) together with a small group of investors, a deal which apparently foundered. Illy is also part of a public-private partnership to promote Swiss science-based innovation, according to the government's website.
