Citigroup Inc. (C)

Credit Suisse loses top dealmaker to Citigroup

Credit Suisse has lost one of its most senior remaining dealmakers to Citigroup, as the beleaguered Swiss lender prepares for a major restructuring of its investment bank after a series of scandals. Jens Welter is quitting Credit Suisse less than nine months after being named co-head of global banking, ending a 27-year career with the Swiss bank where he became known as a top adviser to consumer companies such as Nestlé. Welter will join Citi as its new co-head of European investment banking and also become chair of its consumer and retail advisory business, which works with the largest companies in those sectors globally.