Barclays loses head of sponsors to Credit Suisse

Credit Suisse has hired Matthew Grinnell as a managing director in its leveraged finance and sponsors group

The former head of sponsors in Europe at Barclays, Matthew Grinnell, has left the bank to join Credit Suisse as a managing director in its leveraged finance and sponsors group.

Grinnell will report to Mathew Cestar and Didier Denat, co-heads of the leveraged finance and sponsors group in Europe, and take on responsibility for most of Credit Suisse’s “important private equity relationships”, according to an internal memo seen by Private Equity International.

While at Barclays, Grinnell worked as chairman of the financial sponsors group in EMEA, having previously run the financial sponsors business in the region at the bank between 2009 and 2013.

Grinnell joined Barclays in 2009 after a spell as co-head of European financial sponsors at Nomura. He was also co-head of the European financial sponsors group at Lehman Brothers and has worked with Lehman Brothers in New York and with Deutsche Bank in Hong Kong.

Grinnell will be based in London and join Credit Suisse in November.

It’s been a busy period for European financial sponsors and Howard Lanser, managing director and head of M&A advisory at Robert W. Baird & Co. said lending “has accelerated to the point where it is almost on par with the US.”

“One would have said toward the end of last year that European companies should be issuing in the US. That may not be the case anymore. The European markets have caught up substantially.”