Call it some slight sweet revenge, but Credit Suisse has just hired a managing director in technology research from Jefferies, just months after Jefferies tried poaching a team of TMT bankers from Credit Suisse.
Brad Zelnick has joined Credit Suisse as a managing director focused on software equity research in New York. He had spent the previous three years in a similar role at Jefferies.
Zelnick looks like a replacement for Credit Suisse’s previous global head of software equity research, Philip Winslow, who left late last year for a similar role at Wells Fargo. Winslow led a team of eight analysts at Credit Suisse and spent nearly 15 years at the bank.
Tensions are running high between Credit Suisse and Jefferies. In January, Credit Suisse launched a bid to block Jefferies poaching more of its senior employees and succeeded in persuading five of eight bankers who had agree to join the U.S bank to stick around.
The two banks have history. Last May, Jefferies poached five senior investment bankers from CS, including Cameron Lester, the global head of internet banking.
Credit Suisse has been hiring tech bankers from elsewhere too though. In February it took on Robert Peck from SunTrust to head its global internet banking business.
Photo: Getty Images