Dragi Ristevski’s jump to Macquarie shows UBS Australia’s Anthony Sweetman and Nick Hughes are moving too slowly to keep well-regarded Credit Suisse staff.
Three weeks after the investment banking deal of the decade, Credit Suisse’s Australian staff are none the wiser about who will have a job at cross-town rival and acquirer UBS.
There’s no talk about compensation, rolling over shares and or any of the other things that quickly come up when a banker is properly in play. Investment banking boss Dragi Ristevski, well-regarded as a financial sponsors and industrials banker, has jumped back to Macquarie Capital where he worked more than a decade ago. He will run financial sponsors coverage for the Asia Pacific,Others have been lining up meetings with rivals, recruiters, clients and anywhere else they think they’ll be able to get a job. Because unfortunately for them, UBS is moving slowly and either disinterested or not in a position to move or both.
Now that Ristevski, well-liked within his team and someone his bankers would have rallied behind in the proposed CSFB spin-off, has left, everyone else has permission to do the same.
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