Credit Suisse Australia has expanded a strategic partnership with First NZ Capital to launch a new small-cap business to focus on the Australian small-cap sector.
According to Credit Suisse, the new equity offering will combine the global reach of Credit Suisse with the small-cap expertise of First NZ Capital.
Through this alliance, Credit Suisse Emerging Companies (CSEC Australia) will expand equities and investment banking coverage to focus on small-cap companies, high net worth clients and institutional investors in this sector, according to Financial Standard.
However, the new business will be headed by Credit Suisse Australia chief executive Rob Stewart and led by First NZ Capital chief executive Scott St John.
Additionally, Daniel Janes, former co-head of investment banking for Barclays Australia will oversee the investment banking team from Sydney, while Credit Suisse’s Peter Paltoglou, former head of Credit Suisse’s corporate advisory business, will head the Melbourne-based investment banking team.
Furthermore, Mike Bassett, formerly Credit Suisse’s head of domestic equities research sales will work alongside Craig Haskins director, research sales to lead the securities team, while Paul Buys, previously a senior equity analyst with Credit Suisse, will move to CSEC as head of research and will be supported by a team of analysts.
Stewart said: "The small-cap sector is extremely important to Credit Suisse and our institutional and private banking clients. In addition, small-cap companies stand to benefit from the depth and breadth of coverage to meet their strategic objectives."St John said: "CSEC will address the significant potential this market segment offers in a more focused business, while remaining strongly aligned to the Credit Suisse global network."