The former head of Bank of America’s investment bank has joined Credit Suisse in a major role focused on developing closer links between its advisory and wealth management units.
Christian Meissner will join Credit Suisse later this month to co-head the international wealth management investment banking advisory unit, alongside the other co-head Babak Dastmaltschit, according to a note from the bank.
He was also named as vice chairman of investment banking.
Meissner will relocate from the U.S. to Europe where he will report Philipp Wehle, head of international wealth management, and Brian Chin, head of investment banking.
«One Bank»
In his new role, Meissner will capitalize on the collaboration opportunities by offering investment banking products and services to its ultra-wealthy entrepreneurial clients in the private bank – commonly known as «one bank» deals. He will work closely with investment banking head David Miller; head of Europe, the Middle East and Africa Jens Welter; and head of global trading solutions and international financing group Yves-Alain Sommerhalder.
«We aim to further strengthen the collaboration between IWM and the investment bank across M&A and capital markets.» said Wehle.
«We are delighted to welcome such a deeply experienced and respected leader as Christian and count on his acumen and experience to continue to build out our investment banking franchise internationally,» Chin added.
Rival Interest
Credit Suisse lures a top executive that was in discussions last year with Swiss rival UBS to possibly sign up for a top role. Meissner was widely seen as a potential successor to ex-CEO Sergio Ermotti (which has since been replaced by former ING chief executive Ralph Hamers) though UBS chairman Axel Weber later clarified of «a possible use with us» in a lower rank.
Meissner will also step down from his role as a member of Julius Baer’s board, a role he was appointed to in March this year alongside Asia’s leading private banking pioneer Kathryn Shih.
BofA Exit
Meissner, 50, is an Austrian banker that was credited with reshaping Bank of America’s investment banking arm following the global financial crisis and a merger with Merrill Lynch. He stepped down from the role in September 2018 amid talks of reduced investment banking appetite and misses on key deals.
Meissner was replaced by Australian Matthew Koder who has targeted a top-three position across the advisory business and launched a hiring spree by adding 50 senior bankers over the past two years.
