Credit Suisse picks M&A head

CREDIT Suisse has promoted banking veteran Boon Sim to lead its global and European mergers and acquisitions businesses.

The Swiss bank announced the decision in an internal memo yesterday, in which it confirmed Sim would take up the new role from 1 January next year. He succeeds Marc Granetz, who is also co-head of global investment banking at the firm.

Sim originally joined Credit Suisse’s M&A group in 1992, and has been running the M&A business in the Americas region for the past four years.

During that time, he has worked on high-profile deals such as pharmaceutical giant Bayer’s takeover of Aventis Crop Science and the $21bn (£13.1bn) leveraged buyout of hospital firm HCA by a consortium including US private equity firms Kohlberg Kravis Roberts and Bain Capital.

Credit Suisse said that Andrew Lipsky, head of the Americas diversified industrial and services team, will succeed Sim as head of the Americas M&A team. Lipsky is also a veteran of the bank, having originally joined in 1992.

In Europe, Guiseppe Monarchi, the bank’s co-head of European technology, media and telecom, takes over as head of M&A for the Europe, the Middle East and Africa (EMEA) region from David Livingstone, who becomes chief executive of Credit Suisse in Australia.

Credit Suisse ranks seventh in the table of global M&A banking advisers this year, having advised on $304.9bn of deals.

The bank moved up one place from 2008, and now ranks second for European M&A, up from 6th in 2008, according to Thomson Reuters data released last week.