Credit Suisse Rehires Veteran Dealmaker in Rare “Double Boomerang” Move

Overview

Credit Suisse has made a notable strategic move by re-employing a seasoned dealmaker, exemplifying a rare “double boomerang” hiring pattern, where an executive returns to the firm for the third time. This decision underscores the bank’s ongoing efforts to bolster its financial institutions and specialty-finance advisory capabilities amid fierce industry competition.

Profile of the Rehired Executive

The individual at the center of this development is David Stolzar, a long-standing Credit Suisse veteran with extensive expertise in specialty finance and financial institutions group (FIG) dealmaking. His career at Credit Suisse spans over 15 years across multiple tenures, punctuated by two departures for opportunities elsewhere and subsequent returns—earning him the designation of a “double boomerang.”

In his latest role, Stolzar has rejoined as Americas Head of Specialty Finance, a senior position responsible for advising non-bank lenders, fintech companies, and alternative finance entities.

Rationale Behind the Rehire

At the time of his return, Credit Suisse faced several challenges, including:

• Significant talent attrition within its investment banking division
• Increasing competition from rival firms for FIG and specialty-finance mandates
• An urgent need to rebuild client relationships and regain deal momentum

Rehiring a proven leader with established client ties provided an expedient solution to address these issues, facilitating swift stabilization and leadership continuity.

Implications for Wall Street Hiring Trends

While boomerang hires are increasingly observed across financial institutions, double boomerangs remain uncommon, highlighting broader industry trends:

• Emphasis on experience and proven track records over mere loyalty
• Preference for professionals capable of generating immediate client value
• Recognition that familiarity with internal systems reduces onboarding risks

In volatile markets, firms tend to favor trusted insiders who can deliver results swiftly over external candidates with uncertain integration prospects.

Contextual Background

This hiring occurred prior to Credit Suisse’s 2023 acquisition by UBS, during a period marked by significant restructuring within the bank’s investment banking division. Despite the subsequent changes in ownership and operational structure, this episode illustrates how major financial institutions strive to retain expertise and ensure continuity amidst turbulent times.

Conclusion

The decision by Credit Suisse to rehire a veteran dealmaker exemplifies how in high-stakes finance, experience and relationships often outweigh past departures. For seasoned professionals in the industry, opportunities remain open—even after multiple exits—highlighting the enduring value of established expertise and trusted networks in navigating complex market environments.