Credit Suisse hires Michael Bonacker as Vice Chairman

Switzerland-based global investment bank Credit Suisse has hires senior Oliver Wyman adviser Michael Bonacker. According to a memo seen by Reuters, Bonacker is going to be vice chairman of investment banking and capital markets.

In his new role, Bonacker is going to be based in Frankfurt. He will also become a member of the Client Advisory Group, helping the bank strengthen its investment banking franchise.

Bonacker will report to David Wah, the Co-Head of Global Banking, and Frank Heitmann, the CEO of Credit Suisse for Germany. His focus will be mainly on acquisitions of financial institutional clients mainly in Switzerland, Germany, Austria and Northern Europe.

Most recently, Bonacker was a senior adviser at Oliver Wyman. Prior to that, he worked at Swiss investment bank UBS as Head of Corporate Development.

Bonacker also served as the Head of Asset Management and Corporate Banking at Frankfurt-based BHF bank. He has held a range roles in multiple financial institutions such as Commerzbank, McKinsey, Deutsche Bank, Lehman Brothers and Nomura.

Bonacker’s hire follows a string of scandals and a recent leadership overhaul at Credit Suisse. The bank saw the sudden departure of chairman Antonio Horta-Osorio in January and a series of new hires.

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