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Credit Suisse is rehiring people who were let go three months ago

If you lose your job at Credit Suisse, it need not be the end. Credit Suisse itself may invite you to return a few months later. 

Sources at the Swiss bank say that people who let go before Christmas shortly after the bank announced its restructuring plan are being wooed to return. That wooing presumably took place before the chaos of yesterday. 

Returnees include Omar Quaya, a senior salesman who we understand was cut by Credit Suisse less than 3 months ago. Quaya will rejoin the credit sales team in Paris next week.

It's not the first time Credit Suisse has turned to old staff for new jobs. In September last year, it rehired Sophie Bridge, who rejoined after 18 months away as COO for the investment bank. In March 2022, it rehired Vivek Manipadam, who spent just under two years as head of corporate development at Amazon.

Insiders suggest that a short period out of the bank helps focus the mind on the fact that Credit Suisse is actually quite a nice place to work. 👩‍👧‍👧

Quaya's exit from the bank wasn't intentional, though, and his spell out of the bank was a lot shorter than Bridge's or Manipadam's. Sources say he's likely to be the first of several returners. Quaya will work alongside Gian Vito Magistro, a VP in the Paris office, and will focus on building out the European leveraged finance high yield business. That team, which will sit within CS First Boston, is expected to continue to hiring selectively in the coming months. "CS First Boston is making strategic recruits," said one insider.

Credit Suisse declined to comment.

Photo by Raphael Schaller on Unsplash

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AUTHORSarah Butcher Global Editor

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