Senior Credit Suisse banker who said ageism is the way of banking world disappears aged 48
Are you aged 50+ and fearful for your banking job? Suck it up - that's just how things are in the investment banking universe.
Or at least, so said Chris Carpmael - the former CFO for Europe, the Middle East and Africa (EMEA) at Credit Suisse. During last year's court case brought against the Swiss bank by Tony Shiret, the so-called 'godfather' of equity research who successfully sued CS for ageism, Carpmael acknowledged there were very few 50 year-olds working at CS, but said this was simply the "nature of the industry" in investment banking.
Now it seems that Carpmael himself may have fallen foul of the industry's fundamental state. Financial News reports that he left the bank at the end of last year and that Credit Suisse has confirmed his departure.
Credit Suisse declined to comment, but insiders say Carpmael exited of his own accord. This doesn't seem to be the first time he's taken a rest from banking. Bloomberg reported back in 2011 that Carpmael, who was then European co-head of cash equities at Credit Suisse, had "left the bank amid a restructuring." The FCA Register confirms that Carpmael left Credit Suisse in October 2011, only to reappear in February 2012.
Insiders at CS say Carpmael was on sabbatical during this period. Either way, this rapid rehabilitation could have encouraged Carpmael's seemingly blasé approach to the issue of ageism in financial services.
Maybe he'll be back again in another senior role elsewhere in Credit Suisse or elsewhere. If not, Carpmael has other skills to fall back on. Financial News says he's an expert in 'arctic warfare.' This being the case, he may want to join a hedge fund, where ex-special forces personnel seem to thrive.