Nacho Moreno has been appointed to head the Investment Banking and Capital Markets division for Spain and Portugal. He will report to Pier Luigi Colizzi, who is also co-head of the Barclays M&A franchise in the region. Previously, Moreno headed Barclays’ financial sponsor practice in Spain. He helped advise KKR on MasMovil and the Cellnex 7 billion euro rights issue.
The new hire will work with 500 radicals at the firm’s Iberia office. Last year, Credit Suisse was the eighth-most active advisor in Spain, working on deals worth $12.4 billion.
The bank was downgraded in recognition by S&P, citing the weaker concern and economic environment. In its latest MD round, Credit Suisse promoted eight leveraged finance professionals, including a former Barclays banker.
The new boss will join in March 2016. Former StanChart chief executive officer Anna Marrs will stay on as the interim CEO. Credit Suisse will continue to operate StanChart’s Hong Kong office, which was led by Michael Benz. Both companies have offices in Madrid, Hong Kong and Shanghai.
However, there are some challenges facing the Iberia investment banking unit. Ultimately, the new chief executive officer will have to balance the needs of both institutions while also managing the business.