Credit Suisse director moves into a tech start-up

A female director in Credit Suisse’s equity team has departed for a London-based tech firm after more than 12 years in investment banking.

Lina Balteanu, who was a director in Credit Suisse’s equity linked solutions group until March this year, has signed up to a tech start-up called Yoyo Wallet, which is a ‘multi-retailer mobile wallet’ which allows customers to both pay for items and receive vouchers and other rewards. She has taken a role as a business analytics consultant.

Investment banks, of course, are no strangers to their employees departing for tech firms. But in most instances it’s either senior staff starting their own fintech firms, or juniors departing after a couple of years in the industry to work for an exiting tech firm.

Balteanu’s move is an indication that investment banks also face a challenge holding on to the mid-ranks or those on the path to MD.