Credit Suisse shakes up global M&A, naming Lindsay chairman

[NEW YORK] Credit Suisse is reorganizing the top tier of its global mergers and acquisitions department.

Scott Lindsay, the bank's global head of M&A, will become chairman of M&A, according to an internal memo obtained by Bloomberg. Mr Lindsay will be succeeded by Greg Weinberger and Robin Rankin, who will share the role as co-heads of global dealmaking. The contents of the memo were confirmed by Elizabeth Rudall, a spokeswoman for Credit Suisse.

Mr Lindsay is one of Wall Street's most experienced M&A bankers, having worked with Credit Suisse's deal team for 32 years. He established Credit Suisse's takeover defense and cross-border M&A practice and has served in a number of senior management roles, including a previous stint as chairman of M&A.

Both Mr Weinberger and Mr Rankin joined Credit Suisse in the 1990s and have worked together on many deals. Credit Suisse ranks sixth in advising on global transactions this year, according to data compiled by Bloomberg. The bank has advised on 24 deals woth a combined US$73 billion, the data show.

Mr Weinberger, who most recently served as the bank's co-head of Americas M&A, worked on acquisitions including Halliburton's US$34.6 billion takeover of rival oil field services group Baker Hughes Inc. Rankin, currently co-head of global retail and consumer products, has worked on deals such as Coca-Cola's US$12.3 billion purchase of the North American operations of bottler Coca-Cola Enterprises.

Earlier this week, Credit Suisse announced it would replace long-standing CEO Brady Dougan with Prudential's Tidjane Thiam. Ms Rudall, Credit Suisse's spokeswoman, said the changes in the M&A team aren't related to Dougan's retirement.

BLOOMBERG