Former Citigroup dealmaker Michael Klein was handed control of Credit Suisse's investment banking unit, along with two other top jobs, after the Swiss bank agreed to pay $175m for his 40-person boutique. Klein, a key architect of the spin-out of its investment banking business, was named chief executive of banking, head of its Americas operation and CEO designate of CS First Boston.

Morgan Stanley named new leaders of its UK investment bank, the latest in a series of changes as the Wall Street bank shakes up its dealmaking team. Ben Grindley and Anthony Zammit were promoted to co-heads of UK and Ireland investment banking.