Robin Rankin in New York and Jens Welter in London were appointed this month to lead bankers who counsel companies in the retail and consumer product industries, according to an internal memo obtained by Bloomberg. Tom Davidson and Stuart Smith, both based in New York, were also named to oversee health-care banking, according to a separate memo. They report to James Amine and Luigi de Vecchi, co-heads of the global investment-banking department, who signed the memos. Jack Grone, a spokesman in New York, confirmed the memos’ contents.

Credit Suisse, based in Zurich, already had executives running global teams of bankers advising financial institutions and technology, media and telecommunications companies and in April named London-based Mark Echlin and Andy Lipsky in New York to oversee industrials companies. The bank ranks fourth among advisers on global mergers and acquisitions this year and fifth among underwriters of equity, equity-linked and rights offerings, according to data compiled by Bloomberg.

The changes “will allow us to provide seamless coverage to our clients around the world and consistently deliver to them the resources of the entire bank,” New York-based Amine and London-based de Vecchi said in one of the memos.

Andrew van der Vord, hired from JPMorgan Chase & Co. (JPM) in 2009 as a vice chairman of investment banking for consumer- related companies, was named global vice chairman of the retail and consumer products group, according to one of the memos. Van der Vord, based in New York, will work with Rankin and Welter on improving relationships with clients around the world.

Cutting Costs

Credit Suisse, led since 2007 by Brady Dougan, 52, said last month it plans to cut annual costs by 2 billion Swiss francs ($2.13 billion) by the end of 2013. The bank is scaling down its investment-banking division and cutting 3,500 jobs. Earlier this month the bank said it plans to combine operational functions of its private banking and investment-banking units beginning next year to lower expenses.

The bank also made changes in Europe, the Middle East and Africa to its investment banking department, which handles M&A and equity and debt underwriting, according to a person familiar with the matter. The moves will take effect on Jan. 1, the person said. Financial News reported those changes yesterday on its website.

The region’s bankers advising industrial and energy companies will be organized into a group led by Echlin and Jonathan Grundy, who was previously head of the European energy team, the person said. Bankers working with consumer, retail, real estate, health care, technology, media and telecommunications companies will become part of a group called CRH/TMT, led by Wenceslao Bunge and Giuseppe Monarchi, the person said.

Technology, Media Banking

Bunge, based in London, was co-head of consumer, real estate and health-care banking with Welter, the person said. Monarchi, who is also in London, will continue as head of European mergers and will also be co-head of technology, media and telecommunications banking with Philippe Cerf, the person said.

Bankers who advise financial institutions in Europe, the Middle East and Africa will continue to be led by Eric Richard and Carl-Georg Bauer-Schlichtegroll, both in London. They report to London-based Ewen Stevenson, global head of the so-called global financial institutions group, the person said.

Stuart Upcraft, who has been running M&A in the U.K., will join Sebastian Grigg as co-head of U.K. investment banking, the person said. Grigg has led the business in the U.K. since 2007, the same year that Upcraft rejoined Credit Suisse from Lehman Brothers Holdings Inc.

To contact the reporter on this story: Christine Harper in New York at charper@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net.

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