Promotion Watch '12: Credit Suisse

Recent events might have had you thinking otherwise, but Credit Suisse does more than just layoff its employees-- sometimes it promotes them, too! Earlier this morning, in fact, the Swiss bumped a whole bunch of guys and girls up to managing director. And even though it's not grundle-to-face level exciting, it's still something.
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Recent events might have had you thinkingotherwise, but Credit Suisse does more than just layoff its employees-- sometimes it promotes them, too! Earlier this morning, in fact, the Swiss bumped a whole bunch of guys and girls up to managing director. And even though it's not grundle-to-face level exciting, it's still something.

In case you're looking to congratulate each and every one of them:

Alvarado, Luis
Anwer, Rehan
Azim, Ali
Bakshi, Vishal
Bantli, André
Bathgate, Colin
Beitzel, Matt
Besnard, Pascal
Boschetti, Athos
Brown, Neil
Buccola, James
Buchalter, Gary
Büchler, Philipp
Burke, Darryl
Callahan, Mark
Cameo, Martin
Catchpole, Martin
Cegarra, Walter
Ceraso, Chris
Chua, Christopher
Chui, Johnson
Dabal, Greg
David, Bradley
Delany, Edward
Delnon, Marc
Du, Jinsong
Duff Blalock, Eileen
Dutoit, Olivier
Einaudi, Matias
El-Taher, Julie
Eralil, Lucose
Fankhauser, Urs
Fenner, Christian
Fligge, Marcel
Ghose, Promit
Giolito, Paolo
Gonzalez-Spahr, Manuel
Grossmann, Jörg
Guilger, Fabio
Hammond, Jack
Handy, Brian
Hill, Neville
Hollenstein, Mark
Hompes, Derek
Houghton, Julian
Huber, Patrick
Hux, Jeremy
Isler, Andreas
Jafree, Samina
Johnson, Simon
Karn, Linda
Kavounas, Edmond
Kelly, Christopher
Kiefer, Cyrill
Kinderlerer, Jon
Klein, Jon
Klepetko, Paul
Kovacs, Shane
Kozlowski, Peter
Kruegel, Nicolas
Lago, Guilherme
Lantz, Carl
Le, Khoa
Lebovitz, Jeff
Leder, Urs
Lerner, Michel
Lim, Byungil
Low, Joyce
Ma, Scarlett
Mackenzie, Ross
Maekawa, Hideyuki
Martino, Gian Marco
McCormack, Kieren
McKinney, Charlie
McTernan, Madelaine
Meyers, Elaine
Mezan, Enrico
Minsky, Ira
Moser, Jürg
Name
Noltingk, Duncan
Olidge, Darilyn
Palleroni, Lorenzo
Peterson, Keith
Pfajfer, Aleks
Pike, Sean
Pilant, John
Plestis, Steve
Rahman, Fahim
Ramskill, Tim
Randolph, Trevor
Rieser, Andreas
Roitgarts, Alexander
Ross, Brigitte
Rothenbuehler, Christian
Rubio-Alvarez, Armando
Rüttimann, Raymond
Rybach, Manuel
Sager, Michael
Sam, Elaine
Satran, Jonathan
Scali, Mike
Schlitt, Ryan
Schmidt, Marc
Schollum, Myo
Schüepp, Patrick
Shanagher, Tim
Shane, Jason
Shuman, Michael
Sigrist, Beat
Singh, Surjan
Sonder, Daniel
Splinter, Theo
Staddon, Philip
Stoddard, Michael
Tan, Benjamin
Tan, Kuan Ern
Tee, Amy
Teran, Gabriela
Tiernan, Mark
Torop, Jonathan
Trignani, Stefan
Upton, Simon
Vaccaro, Nicolas
Welch, Tracy
Win, Mya
Winslow, Phil
Woodhouse, Joe
Young, Bill
Zarriello, Daniel
Zehnter, Sascha

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Promotion Watch '12: Citigroup

Contrary to popular belief, not all news is bad news at Citigroup. Yesterday a whole buncha employees were named Managing Directors and while some might say that the only Wall Street promotion news worth reporting is that of Goldman Sachs, Citigroup is a real bank, too, so here ya go:

Layoffs Watch '12: Credit Suisse

The Swiss bank is not done with its firings. Credit Suisse, the second- biggest Swiss bank, told New York state regulators it will eliminate 126 jobs in Manhattan over the coming months. The dismissals affect offices at 1 Madison Ave. and 11 Madison Ave. and will extend through Aug. 6, the bank wrote in a Department of Labor filing. The firm decided last year to scale down its investment bank and said it would cut 3,500 jobs. [Bloomberg]

Layoffs Watch '12: Credit Suisse

While Brady Dougan is keeping his job, the same cannot be said for 1/3 of European investment bankers. Credit Suisse is to cut senior staff in its European investment banking department by up to a third, three sources familiar with the matter said, as tighter regulation and weak markets hit the sector. "In the European investment banking business, they are going to get rid of 60 directors and managing directors," one source said on Monday. The investment banking department affected advises on mergers and acquisitions, stock market listings, financing and debt issues, as opposed to other areas of the broader investment bank that focus on securities trading. "It is about a third of the directors and 10-15 percent of the MDs," the first source said, referring to what are typically two most senior job ranks in the banking world. The layoffs would happen in July, this person said. The formal redundancy process can last several months. A second source said the cuts could end up affecting 20-30 percent of senior investment banking staff in Europe. Credit Suisse To Make Heavy Job Cuts In Europe [Reuters]

Layoffs Watch '12: Credit Suisse

Cuts were said to have gone down at the House of Dougan this week. "Layoffs at Credit Suisse this week, mostly Wednesday and Thursday. ASO / VP level in IBD groups in New York (TMT, Energy, Industrials, Sponsors)."

Layoffs Watch '12: Credit Suisse

Cuts are going down at the House of Dougan today. From the front lines: "Layoffs started at Credit Suisse this morning, across the investment bank. All levels affected, including a good amount of senior guys." Apparently these reductions are part of a round cuts announced last year and were to be expected (though the "let's have a chat" from HR this morning may still have been a slight surprise for those being asked to take a seat).