Credit Suisse appoints Angelo Scasserra as Australian investment banking chief

Credit Suisse is making changes in its Australian leadership team. Picture: AFP

Credit Suisse has embarked on a shake-up at the top of its local ranks, with Angelo Scasserra being appointed co-head of investment banking and capital markets in Australia for Credit Suisse.

Current co-head, Mark Carlile, will shift into the role of vice chairman of investment banking and capital markets in Australia.

The role will likely see Mr Carlile, a prominent and well regarded energy and resources banker, step away from hiring and firing responsibilities at the bank and offer more focus on securing business, rather than compliance and administration.

Mr Scasserra is an Asia Pacific real estate investment banker who has worked with Credit Suisse for 15 years and will now jointly run investment banking in Australia with James Disney, who had previously worked at overseas at Credit Suisse before he stepped into the position.

The changing of the top guard locally at Credit Suisse comes after a tumultuous few years for the European investment bank as it remains in battle with larger competitors such as JPMorgan and Citi that have stronger balance sheets and market values that are in some cases about ten times the size.

Global Credit Suisse boss Tidjane Thiam left amid a spying scandal involving the bank this year.

Local chief executive and investment banking head, John Knox, in 2019 was replaced by Hong Kong Deutsche Banker Richard Gibb.

The former head of investment banking Michael Stock, who now runs Jefferies Australia, departed the Swiss firm in 2017 after taking the position in 2015,

Senior banker Dan Janes also left to join Bank of America, although Credit Suisse has since hired other top level staff, including private equity banker Duncan Mann and industrials banker Emily Smith, both from Deutsche Bank.