Three Credit Suisse heavy-hitters have left the bank to launch a new consultancy to help investment banks with everything from planning for Brexit to hiring the best staff.
David Long, who held various senior positions at Credit Suisse during his 25 years at the bank, has formed Pall Mall Risk Reduction with two other former colleagues who have also held chief operating officer roles at Credit Suisse.
Long was latterly head of strategic initiatives at Credit Suisse, a role that involved planning for its business model after the Brexit vote. He was also previously group chief operating officer (COO) for its EMEA operation.
Also heading up the new company is Nick Wilcock, who was latterly COO for northern Europe within Credit Suisse’s investment bank and also president of its Moscow office during his 30 years at the bank, and Charanpal Matharu, who spent 13 years at Credit Suisse most recently as a COO within its investment banking controls team.
Our attempts to contact Long were not successful, but the firm describes itself as a “COO practice” seeking to help banks to reduce operational and conduct risk. It offers a broad range of services including helping investment banks plan for the impact of Brexit, training and managing employees, technology management and helping investment banks with burdensome regulations. They are also engaged in ‘strategic advisory’ work – which could mean cost-cutting and redundancy programmes within the investment banks.
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