Credit Suisse Group AG (CSGN) named John Cogan and Ahmad Masud as co-heads of the Americas power and utilities investment-banking group after three energy bankers left for Bank of America Corp (BAC:US).
Masud joined Credit Suisse in 1994 and Cogan started with the Zurich-based bank in 2000, according to an internal memorandum obtained by Bloomberg News. Both bankers are based in New York and report to Osmar Abib and Jamie Welch, co-heads of the global energy group, the memo shows.
Cogan and Masud will replace Ray Wood, who was hired by Bank of America earlier this month as head of U.S. power and renewables. Gavin Wolfe and Jason Satsky also left to join the Charlotte, North Carolina-based bank as managing directors reporting to Wood.
Tim Perry will continue to run the Americas oil and gas group, according to the memo. Jack Grone, a spokesman at Credit Suisse, confirmed its contents.
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