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Morgan Stanley, Citi, Credit Suisse MDs flock to Japanese bank

SMBC isn’t the first place you think of when you imagine the banks that can attract MDs from the world’s biggest investment banks, but as with Santander, 2024 is proving to be an odd time.

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The most recent new face at the Japanese bank was Sabine Chappard. An MD and 22-year veteran of Credit Suisse, Chappard joined SMBC yesterday to head up its EMEA financial sponsor solutions team, based in London. She was cut from Credit Suisse back in 2023, and was head of the bank’s strategic foreign exchange group.

Two MDs, meanwhile, joined SMBC in New York: Clarke Adams and Matt Burke, from Morgan Stanley and Citi respectively.

Adams spent 13 years as an MD at Morgan Stanley, after MD stints at Goldman Sachs and Credit Suisse. He was most recently Morgan Stanley’s head of US leveraged finance syndicate; and at SMBC, he’s head of high yield capital markets. Burke, meanwhile, spent 16 years with Citi’s leveraged finance team – and at SMBC, he’s the head of leveraged finance origination for the bank. Both men joined earlier this month.

Moving to SMBC might be an odd career choice for a Wall Street banker, but getting a promotion up the leveraged finance ladder is very much not. As interest rates show signs of falling, banks are looking to make up leveraged finance market share that has been lost to private credit firms.

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AUTHORZeno Toulon
  • An
    Anonymous1
    29 February 2024

    Retirement gig

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