Jarden and Credit Suisse go their separate ways in Australia
Axe falls on relationship after 30 years following Jarden's expansion in Australia.
Credit Suisse Australia and Jarden call time on their strategic partnership
A 30-year alliance came to an inevitable end on Friday when Credit Suisse Australia and Jarden exited their strategic partnership.
As Euromoney reported in our feature this week, the relationship appeared untenable once Jarden, previously a strong name in New Zealand but with no meaningful presence in Australian investment banking, set about building an impressive roster of senior bankers in a new boutique headquartered in Sydney.
Among them was Chris Tolj, an equities sales trader from Credit Suisse. That hire, and the appearance of Jarden on an equity raising for HomeCo, which is a Credit Suisse client, cemented the sense that the relationship had to come to an end.
Since May, Jarden chief James Lee had been saying that “the two companies would continue to work collaboratively in the best interest of clients”. But no more.
Today the two appeared to part on good terms.
“We wish Jarden all the best,” said Richard Gibb, Credit Suisse’s Australia CEO. “We have a long history between us and we look forward to the opportunity to work together in the future.”