Three secondaries execs to leave Credit Suisse

Three secondaries advisory professionals at Credit Suisse are stepping down as the bank moves through its integration with UBS – its emergency acquirer – sources told affiliate title Buyouts.

The three are part of an exodus of talent that has moved on from the bank since the Swiss government forced UBS to buy Credit Suisse in March. Among the various groups, Credit Suisse’s private fund group has seen departures among executives focused on raising money for private investment funds and those who help facilitate secondaries deals.

The departing executives are: Dirk Jonske, Gabrielle Kim and Adrian Siew. Jonske joined in 2019, while Kim and Siew came on board in 2021 from Lazard. Siew joined Lazard in 2017 while Kim joined in 2016.

The three are said to be heading to Eaton Partners, where they will help expand the firm’s secondaries advisory capabilities, sources told Buyouts. That could not be confirmed, as Eaton declined to comment. Eaton’s secondaries advisory team is led by managing directors Dexter Blake and Peter Martenson.

“While we don’t comment on market rumours, Eaton Partners is committed to further enhancing our robust secondary advisory platform to best serve our clients and investors,” according to a statement from the firm. “We have extensive experience executing successful transactions in this area, and are always looking to grow the team when talented professionals become available.”

UBS continues to work on integrating Credit Suisse operations, including figuring out which executives will come over. The banks are also sorting through Credit Suisse’s numerous fundraising mandates, as reported by Buyouts.

Credit Suisse has already experienced an exodus of talent from its private fund group, including one of the co-heads, Michael Murphy, who left earlier this year to take over the investor relations function at CapVest. The group’s sole head is David Klein.

Others who left the private fund group prior to the UBS acquisition included fundraisers Jerome Wallace and Brian Williams, co-heads of Americas distribution, who left at year-end and will join William Blair later this year. Jeremy Duksin, global head of capital solutions, left last year to join Robert W Baird as head of the firm’s new secondaries advisory business.