David Kamo Goldman Sachs
David Kamo Goldman Sachs

Goldman Sachs Group hired investment banker David Kamo from Credit Suisse Group AG as it seeks to grow its business working with private equity firms, according to people familiar with the matter.

Kamo, who helped lead a new sell-side M&A effort at Credit Suisse, will join the New York-based bank in June, the people said.

Kamo will join the Financial Sponsors M&A group and report to global head of sponsors M&A Stephanie Cohen, one of the people said.

The sources asked not to be identified because the hires have not been publicly announced.

Goldman Sachs and Credit Suisse declined to comment.

Kamo, a managing director who left the bank in March, is the latest Credit Suisse banker to join Goldman. In March, Goldman hired Sarah-Marie Martin as a partner in its Financial Sponsors group.

Goldman, which ranked as the top advisor in global M&A during the first quarter of 2016, according to Thomson Reuters data, is looking to expand its business advising private equity firms. Credit Suisse ranked third in global M&A in the first quarter of the year.

Kamo joined Credit Suisse in 2015 from Barclays PLC. The Swiss bank replaced Kamo earlier this month when it named Haidee Lee, a former BMO Capital Markets banker , to be head of sell-side M&A Americas in its investment banking and capital markets division.

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Credit Suisse has lost several bankers this year, including a Chicago-based managing director, Sam Shah, and a director, Raghu Velamati, who are both joining Australia’s Macquarie Group Ltd to focus on the education and business services sectors, Reuters reported on Monday.

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