Credit Suisse's head of EMEA TMT M&A quit for JPMorgan
David Krap has left Credit Suisse and found a new job at JPMorgan. It's nothing to do with the Swiss bank's current tribulations: we understand that Krap resigned over a month ago.
Krap was Credit Suisse's EMEA head of technology media and telecoms M&A, based in London. He joined the bank from Centerview in 2019, and was spearheading Credit Suisse's attempts to increase its presence with European technology clients.
Both Credit Suisse and JPMorgan declined to comment on Krap's exit. It's understood that Krap won't be covering TMT at JPMorgan - instead he'll be focused on the consumer and retail sector, which is what he covered at Centerview previously.
Krap's exit comes as David Miller, head of Credit Suisse's investment bank, said he's hiring 40 managing directors to help replace the 69 senior bankers who left last year. Krap's exit presumably takes that number to 70. Technology is one of the areas Miller says the bank is particularly focused on: Credit Suisse recently hired Furhaan Khan from Nomura in London and made him its head of West Coast internet banking, based out of San Francisco.
Credit Suisse's share fell nearly 4% yesterday after the bank issued a profit warning for the second quarter. The bank is currently advertising 33 M&A jobs globally, including five healthcare bankers and and associate in TMT based in London.
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