According to the memo from the bank, Drag Ristevski was hired from the Macquarie Group. Ristevski is one of Credit Suisse’s top Australian dealmakers; while working with Credit Suisse, he was the head of capital markets and investment banking.
According to the memo, he will be the head of investment banks for financial sponsors in the Asia Pacific region for Macquarie. Before Credit Suisse, Ristevski was with Citigroup for 11 years; after that, in 2021, he joined Credit Suisse. Ristevski earned his reputation as a top Australian private equity investment banker with Citigroup.
To compete more aggressively with the bulge bracket firms in Australia, he was hiring more senior bankers from his previous company, Credit Suisse. As of last month, due to Switzerland’s government-engineered deal, UBS agreed upon buying the rival bank, Credit Suisse. This aggressive discussion was made to avoid a meltdown in the nation’s financial system. The deal was signed for 3 billion Swiss francs, which is $3.31 billion.
According to reports from Swiss media, the merger could lead the bank to reduce its workforce, and we could see a reduction of 20% to 30%. According to the memo, Ristevski had advised the high-profile clients to seek the opportunity and take deals in the region, as stated by executive director Tim Joyce. The high-profile clients included PEP, Quadrant, KKR, Bain, and TPG.
- Published By Team Australia News