Credit Suisse on Wednesday named David DeNunzio, one of its veteran deal makers, as the global chairman of its mergers and acquisitions group, according to an internal memorandum reviewed by DealBook.
The appointment of Mr. DeNunzio follows the formal announcement that Steven Koch, currently a co-chairman of the unit, was leaving the firm to become a deputy mayor of Chicago under Rahm Emanuel.
Mr. DeNunzio, who is also a vice chairman of Credit Suisse, will continue to serve as a senior deal maker, working with a number of the firm's top clients. He joined First Boston, a predecessor of the modern Credit Suisse, in 1989, after having spent nine years at Kidder, Peabody.
Among the deals he has worked on in recent years are Goodrich's sale last year to United Technologies and Airgas‘ defense against Air Products & Chemicals' hostile bid.
Mr. DeNunzio will report to Jim Amine, the head of the firm's investment banking department, and Scott Lindsay, t he global head of mergers and acquisitions.
Here's the memo:
We are pleased to announce that David DeNunzio has been appointed Global Chairman of the Mergers & Acquisitions Group, effective immediately. In this position, David will oversee a number of important client relationships, transactions and opportunities, working closely with the global and regional heads of M&A. He will report to the undersigned.
David joined the M&A Group of The First Boston Corporation, the predecessor firm to Credit Suisse, in 1989 after nine years at Kidder, Peabody. During his 23 years with the Bank, he has been a key part of our M&A effort in multiple industry sectors, including industrials, energy, retail & consumer and financial institutions. He has held various management positions, including Head of Investment Banking for the Eastern U.S. Region and Canada and Head of Insurance Investment Banking. He also ran our private equity business for several yea rs prior to the DLJ acquisition.
The M&A Group exemplifies our role as “trusted advisors†to our clients and is a cornerstone of our strategy to provide clients with advisory and financing services on a global basis. The Group's strong client relationships and depth of expertise have helped it consistently achieve top rankings globally, with a No. 2 ranking in the first half of this year in completed transactions.
Please join us in congratulating David on his appointment and wishing him continued success.
Jim Amine Scott Lindsay
And here's the memo formally announcing Mr. Koch's departure from Credit Suisse. It's signed by Eric Varvel, the head of the investment banking division (which includes fixed income trading and equities), and Mr. Amine.
Steve Koch has informed us of his decision to retire from the investment banking industry and undertake a new career in government. Steve has b een named Deputy Mayor of the City of Chicago by Mayor Rahm Emanuel, effective September 4, 2012.
Steve joined The First Boston Corporation, the predecessor firm to Credit Suisse, in 1985. During his 27 years with the Bank, he has held a number of senior leadership roles in M&A and the Investment Banking Department. He ran our Global M&A business from 1993 to 2000, after which he became Global Co-Chairman of the Group. He is one of the longest-serving leaders of an M&A practice in the industry.
During his distinguished career as one of Wall Street's leading M&A practitioners, Steve has advised on landmark transaction across a broad range of industries. His intuitive grasp of clients' needs and his talent for crafting innovative responses to complex challenges has made him a trusted advisor to numerous key clients of the Bank. Steve has advised on many of the most prominent contested transactions of our time, transformational mergers & acquisitions, spin-offs and other divestitures, strategic bolt-on acquisitions and joint-venture agreements that together comprise more than $1 trillion worth of transactions.
Steve has also played a prominent role in building the culture of our Bank. In addition to mentoring many of the current leaders of our investment banking business, Steve helped develop and implement our professional review system; developed and led our MD review process for many years; served on various risk management, branding and firm strategy committees; and has been a leader in recruiting.
We are pleased to see a senior partner in our business start a new career in public service. Please join us in wishing Steve all the best in his new role with the City of Chicago.
Eric Varvel Jim Amine
