UBS Nabs Australia Banker from Credit Suisse

The exodus of bankers at Credit Suisse continues this time from its Australian unit to rival UBS.

Managing director Tim McKessar will leave Credit Suisse to join UBS, according to a «Bloomberg» report citing an internal memo, following the collapse of family office Archegos Capital Management. 

McKessar will be tasked to run the telecommunications, media and technology (TMT) advisory team in Sydney alongside Brendan Mulheron.

McKessar first joined Credit Suisse in 2007 and was last responsible for overseeing TMT advisory for the bank in Sydney.

Banker Exodus

Bankers continue to depart Credit Suisse in the aftermath of its twin debacles of the Archegos and Greensill collapse. 

In Asia, it most recently lost Singapore-based China private banker Elaine Zhang to J.P. Morgan as well as multiple staff from its Japanese unit to Liechtenstein-headquartered LGT.