Credit Suisse top financial institutions banker in Europe to join Jefferies

LONDON: Credit Suisse has lost one of its key dealmakers in Europe as a talent exodus which started in the United States spreads to Europe, two sources familiar with the move told Reuters.

Armando Rubio-Alvarez, who heads the Swiss bank's financial institutions (FIG) franchise in Europe, the Middle East and Africa, is moving to Jefferies where he will take on European responsibilities leading the coverage of some of the region's biggest financial clients, the sources said.

His appointment - which will be effective after the summer - follows the departure of Credit Suisse's global head of financial institutions, Alejandro Przygoda, who recently announced plans to move to Jefferies alongside three other bankers in his New York-based FIG team.

Credit Suisse declined to comment while Jefferies was not immediately available for comment.