Six Credit Suisse bankers in London were just rescued by Apollo Global
It's been a long wait for members of Credit Suisse's securitized products group (SPG) in London, but for some of them at least, the waiting has finally come to fruition.
Around seven members of Credit Suisse's London SPG are joining Altas, the Apollo Global securitized products venture that ingested many of their US colleagues in December last year. They include managing director Jason O'Brien, director Ali Tariq Khan and associate Laurent Debril.
Credit Suisse declined to comment.
Apollo Global is a happy home for Credit Suisse's SPG people. Speaking earlier this month during Apollo's quarterly investor call, Marc Rowan, chief executive of Apollo, said the timing of the acquisition, "could not have been better." Apollo's securitized product group is able to lend to other members "during a time of market stress," said Rowan, adding that it can step in to fill for "lapses" elsewhere in the market.
Some members of Credit Suisse's London SPG haven't gone to Apollo, though. Sources in the group say that around half remain stranded at Credit Suisse, where they're working through three-month notice periods before being let go.
Several members of Credit Suisse's US SPG team were plucked up by Mizuho. However, this isn't happening in London: Mizuho hired salespeople and traders in the US and the London SPG team is more focused on origination.
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