Credit Suisse’s Top Australian Dealmaker Moves to AU Investment Bank

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Australia’s biggest investment bank, Macquarie Group, recently hired the head of investment banking and capital markets of Credit Suisse. The move was accomplished after Credit Suisse’s merger with UBS.

Dragi Ristevski was the top Australian dealmaker for Credit Suisse. His move came after the recent Credit Suisse and UBS merger, which may be beneficial as the merger is “poised to reduce Credit Suisse’s workforce by 20 to 30 per cent. The Swiss government brokered the union to avoid the meltdown of the country’s financial system.

The deal was needed because, without it, the security of global financial stability would be severely affected. UBS has $1.6 trillion in assets and more than 120,000 employees globally. Still, it mentioned that it aims to realign positions which may impact around 11,000 jobs in Switzerland and its US investment banking arm.

Before joining Credit Suisse in 2021, Ristevski earned his reputation as one of Australia’s top private equity investment bankers during his eleven-year stint with Citigroup. Ristevski’s goal for Credit Suisse was to compete with the bulge bracket firms in Australia, leading him to hire seasoned investment bankers to help him.

During his short stint with Credit Suisse, Ristevski was credited for several successful deals, such as the $800 million KKR & Co acquisition of ProbeCX and hospital operator Ramsay Health Care Ltd. He was also part of the TPG Inc sale of a strategic stake in veterinary firm Greencross to AustralianSuper.

Ristevski’s new role in Macquarie will be as head of financial sponsors for the Asia Pacific region. He is expected to work with Dieu Ndenzako as part of the APAC Group Heads Committee. He will “build a new specialist private equity coverage team for the Asia Pacific market”. He will be directly reporting to Tim Joyce in his new role, according to the official statement of Macquarie.

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