Deutsche Bank snapped by Credit Suisse

According to a memo, the Credit Suisse has poached Deutsche Bank‘s Israel Fernandez to lead its financial institutions group (FIG) in Europe, the Middle East and Africa in tandem with Julien Lamm. Fernandez on Nov. 15 is taking his new role. Just like his predecessor Armando Rubio-Alvarez, he will be based in Madrid.

He is a 15-year veteran of Deutsche Bank. Most recently he was in charge of its FIG franchise in Iberia. Fernandez has advised on transactions including the 2.2-billion-euro merger of Unicaja and Liberbank and Banco Santander’s purchase of Allianz Popular Holdings. In his new role as co-head of EMEA FIG he will share responsibilities with Lamm. Lamm has rejoined Credit Suisse in 2015 from Morgan Stanley. He leads the capital markets and advisory for FIG clients in France and Belgium. European insurers were also covered by him.

The bank is seeking to fill key investment banking jobs that are left vacant by a talent exodus earlier this year, after continuous scandals that shattered employee morale. Credit Suisse has also elevated Gaurav Parkash to EMEA head of banks. Parkash, who joined Credit Suisse has worked with some of bank‘s biggest FIG clients like Standard Chartered and Deutsche Bank. The Swiss lender is going through a strategic review of its operations, previously snapped up HSBC banker Orazio Tarda. Because its global co-head of fintech sharing the job with Brian Gudofsky in New York.