Credit Suisse has hired SunTrust’s Robert Peck to lead its global internet banking franchise, according to an internal memo seen by Business Insider.
He is expected to start in New York in March and will report to global head of technology banking, David Wah.
Peck was previously head of internet research at SunTrust. Prior to SunTrust, he was president of technology, media and telecommunications, or TMT, investment banking CoRise.
As an internet analyst, Peck has made regular appearances in the media. Last year, he made headlines for asking Yahoo to remove Marissa Mayer as CEO.
He recently called on Twitter to cut 10% of its workforce to save around $100 million a year due to stagnant user growth. He is also known to be an Alibaba bull.
Credit Suisse’s technology group lost five key bankers earlier this year, including Cameron Lester, who was head of global online banking.
He and four other bandleaders – Cully Davis, Bill Brady, Steve West and John Metz – left for Jefferies in May.
Here’s the full memo, co-signed by TMT global co-heads Wah and Mark Simonian:
“We are pleased to announce that Robert Peck will join Credit Suisse as Managing Director, Head of Global Internet Investment Banking within the Technology Group of the Investment Banking and Capital Markets division. Bob is expected to take up his role in March 2017. He will be based in New York and will report to David Wah.
“Bob joins us from SunTrust Securities where he most recently served as Head of Global Internet Research since 2013. Bob has covered the Internet industry for over a decade and has always been a thought leader in the Internet industry. Internet and Digital Media, having been ranked for several years in Institutional Investors’ annual All-America Research rankings.
. Bob is regularly featured in the media, including CNBC, Bloomberg, Fox Business News, The Wall Street Journal, and The New York Times, and is well known to tech companies, public investors, and venture capitalists. Prior to joining SunTrust in 2013, Bob was President of CORISE LLC, a TMT merchant bank, and from 2008 to 2011 he was a senior analyst covering TMT at Baron Capital. Bob also served as a mentor at ERA, an early-stage startup accelerator in New York dedicated to mentoring and training early-stage entrepreneurs.
“Credit Suisse’s Technology Group has a long tradition of leadership in the global internet industry, having acted as bookrunner for the IPOs of leaders such as Google, Baidu, Facebook and Alibaba. The hiring of Bob, combined with the recent arrival of managing directors in San Francisco, Marco Chisari in technology mergers and acquisitions and Brian Marshall in software, demonstrates our commitment to maintaining our position as a leader in technology investment banking.
“Please join us in welcoming Bob to Credit Suisse and wishing him every success in his new role.