More Credit Suisse Senior Bankers Depart in Wake of Archegos Loss

Credit Suisse Group AG is continuing to lose senior bankers to competitors in the wake of missteps including a $5.5 billion loss tied to the meltdown of Archegos Capital Management.

Several investment bankers in the U.S. gave their notice in the past week, while others are considering leaving, people familiar with the matter said.

Bankers recently heading for the exits include: Eric Federman, who was a co-head of the media- and-telecom team and is joining Barclays PLC; Spyros Svoronos, who was a co-head of the global-industrials team in the Americas specializing in chemicals and agricultural companies and is joining Lazard Ltd. ; Brian McCabe, who was head of global energy and is joining JPMorgan Chase & Co; and Brad David, who works with private-equity firms and is joining Evercore Inc.

The departures are the latest blows to the bank after Credit Suisse’s head of global mergers and acquisitions decamped for Morgan Stanley last month; well over 10 bankers in the U.S. investment bank had already been poached by rivals.

And in another sign that the Archegos fiasco continues to cost the bank several months after the investment firm imploded, Credit Suisse has been battling to hold on to other key talent rivals have sought to poach—in many cases through hefty retention bonuses and other perks.

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