Doug Pierson, head of the industrials group for the Americas at Credit Suisse, has left the company following the announcement of its pending acquisition by UBS Group AG. Pierson is now set to join the prestigious firm Moelis & Co., the people familiar with the matter have reported. Having advised on deals related to the metals and mining sector, Pierson has made his mark in the investment banking business.
The pending merger between Credit Suisse and UBS Group AG has expectedly had repercussions on the banking division of Credit Suisse, which was set to be spun out and rebranded as First Boston. Furthermore, UBS Group AG has mulled deep layoffs for the institution, which has already led to the exits of over ten members of Credit Suisse’s banking division.
Prior to this, Pierson had practiced law at Cravath Swaine & Moore from 2005 before joining Credit Suisse as an associate. His LinkedIn profile states the same.
Moelis & Co. is a prestigious global investment banking business specialist. The firm provides strategic and financial advice to businesses and organizations across the world, mainly focusing on mergers and acquisitions, capital markets, corporate finance, and restructuring. Additionally, Moelis & Co. also works in providing private fund services. With an army of more than 700 professionals stationed across cities around the world, Moelis & Co. is one of the largest independent investment banks in the world.
Having made his mark in the investment banking business, Pierson is a Credit Suisse veteran having been with the company for more than a decade. He also has considerable experience in his chosen field of metals and mining sector investments. He is sure to bring great value to Moelis & Co. with his experience and understanding of the field.