Citi hires Credit Suisse MD in Singapore despite cuts
Citi might be cutting from its senior leadership team around the world, but that doesn’t mean it can’t add to its top brass where opportunities present themselves - opportunities such as Credit Suisse’s demise.
Diana Lim, for instance. Lim spent over 18 years at Credit Suisse, first in New York and then Singapore, first in leveraged finance before making MD in 2010 and leading the bank’s corporate finance efforts in Southeast Asia by the time she left. She moved to Citi earlier this month to head up corporate finance for the ASEAN region.
Citi is an… Interesting place to be moving to at the moment. The bank has just begun a consultative period in London to see who it’ll be cutting in the city as part of the simplification of its management structure (it’s going from 13 layers of management to 8, as well as eliminating a bunch of committees).
That period is a legal obligation before any significant redundancies are made, and it’s a sign: it’s job cutting season. But people are also leaving of their own free will, including veteran MDs in compliance and (energy) investment banking.
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