Marco Illy, the chairman of the corporate and investment banking division at Credit Suisse, has joined UBS, Citywire Switzerland has confirmed following research by Finews.
Illy will join UBS at the beginning of December as head of investment bank for Switzerland. Having worked in the industry for 30 years, Illy will also serve on the executive committee for Switzerland.
During his time at Credit Suisse, Illy ran more than 50 IPOs in Switzerland and led investment banking deals such as Nestlé's divestiture of Alcon, the demerger of Syngenta by Novartis and Astra Zeneca, and the sale of Ciba to BASF.
In a statement, UBS said: ‘Marco Illy's appointment comes at an important time for our business, as we look to build upon and strengthen our platform.
‘His experience, insight and depth of client understanding and needs will ensure that he, along with our team within the Investment Bank and across UBS, will play a key role in taking us to the next level.’
Credit Suisse said that no successor will be appointed to take on Illy’s role as chairman at the bank.