Credit Suisse investment banker Sebastian Grigg has been appointed vice chairman of the bank's EMEA investment banking department after having spent six years at the helm of the company's UK investment banking team.
Grigg's appointment takes effect immediately and his new role will focus on "existing clients and the further development of our client franchise," according to an internal Credit Suisse memo announcing the appointment and seen by Reuters.
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Grigg, who began his career at Lazard, was hired by Credit Suisse in 2007 after having spent a decade at Goldman Sachs where he advised companies such as BSkyB , EMI Group and WPP Group .
"Since joining Credit Suisse in 2007, Sebastian has successfully led our UK banking business, developing relationships with large UK corporations and the UK Government through a period of challenging market conditions and a tightening UK regulatory environment," the memo said.
A source familiar with the matter said Charles Donald and Jonathan Grundy would succeed Grigg.
Donald joined Credit Suisse in 2009 from Nomura where he had been head of British investment banking, while Grundy was hired the same year as head of energy for the EMEA region from Merrill Lynch Bank of America.
News of Grigg's appointment comes just a week after the Swiss bank - ranked sixth in terms of investment banking revenue in EMEA in 2012 according to Thomson Reuters data - named Marisa Drew and Ewen Stevenson to jointly lead its European investment banking business.
(Reporting by Alex Smith in London and Abhishek Takle in Bangalore; Editing by Bob Burgdorfer)