Credit Suisse has promoted one of its star investment bankers, the son of a former Bank of England governor, to run its business in the UK.
James Leigh-Pemberton, 52, was yesterday appointed chief executive of Credit Suisse in the UK, overseeing its investment banking, asset management operations and private banking. He will also keep his job as chairman of UK investment banking.
The Eton and Oxford University educated banker has worked at Credit Suisse for 14 years in equity capital markets, after joining from SG Warburg Securities. Insiders at the Swiss bank said he "is one of the group's most senior bankers in Europe".
His father, Sir Robin Leigh-Pemberton, was a City grandee who acted as chairman of NatWest, before being appointed Governor of the Bank of England in 1983. He held the post for a decade, and was made a life peer as Baron Kingsdown of Pemberton.
One investment banker who knows the junior Mr Leigh-Pemberton well said: "He is a great guy. He doesn't play on his connections at all. In James, they've got the real deal."
Mr Leigh-Pemberton has worked on deals including the sale of Corus, formerly British Steel, to Tata, and Heineken, which teamed up with Carlsberg to buy Scottish & Newcastle. He was described as one of the "leading lights" on the team that advised Barclays on its ultimately unsuccessful approach for ABN Amro.
He has also been receiver general for the Duchy of Cornwall, which manages estates for the Prince of Wales.