MD Michael Shillaker Departs Credit Suisse After 14 Years

After slightly more than 14 years with Credit Suisse, Michael Shillaker, a Managing Director and the Head of Steel and Mining Research has left the Swiss multinational firm, Finance Magnates has learned.

Shillaker, who has been employed by large financial institutions in Steel research positions for close to two decades, left Credit Suisse in January of this year to explore new opportunities, his LinkedIn states.

It appears that he has not yet found a new position, with his profile stating his next role is “to be decided.” Shillaker joined the bank back in December of 2004 and was based in the company’s United Kingdom operations in London.

Credit Suisse Prepares for Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term

It is interesting to note that his departure comes with the Brexit deadline just around the corner. According to a report from Bloomberg, which cited people familiar with the matter Credit Suisse is planning on moving 250 positions from the UK to offices in Europe, with their focus mainly on Spain.

These 250 jobs are only under the first phase of the Swiss firm’s Brexit plans, and even more jobs could be moved from London to other cities within the remaining EU member states. According to sources, the firm originally had its sights set on Paris, but after talks with local regulators and government officials, the bank decided to go another way.

However, it is not clear why Shillaker has departed the bank and if it had anything to do with Brexit. Neither Credit Suisse nor Shillaker have reportedly responded to media requests for comment on the move.

Before Shillaker was at Credit Suisse, he was employed at UBS, where he was also based in London. For three years he held a similar role to that of Credit Suisse, as he was the Head of Global Steel research.

Before embarking his career of Steel research, Shillaker attended Southampton University in England and later graduated in 1992 with a Bachelor degree.