Tarda joins the credit firm after a 16-year stint with HSBC where he served as global head of fintech overseeing M&A and client advisory services for the likes of Nexi, Mastercard, Advent, Bain Capital, Apollo, First Data and SIA.

In his new capacity, Tarda will be working with the global head of technology, Brian Gudofsky and will be reporting to Credit Suisse Italy CEO Federico Imbert. Tarda is known for being an active participant in the rapid consolidation of the European payments industry. According to media reports, Tarda served as the lead advisor to Nexi at a time when the company merged with Nets and SIA.

Credit Suisse is on a path to rebuild its financial institutions banking team after 10 people quit globally to join the rival Jefferies. The company decided to hire Tarda after 30 senior members from the company decided to quit Credit Suisse’s investment bank following a $5.5 billion loss after their family office Archegos Capital collapsed.

Although, Credit Suisse chief executive Thomas Gottstein mentioned that staff turnover was “in line with the past seven years” during a meeting with journalists on July 29.

He told the media, “While we have seen departures, notably in capital markets and advisory in the US, we have been investing in new hires across all major divisions including investment banking and in asset management.”

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Fintech across the globe raised around $8.8 billion during the first half of 2020, according to ForexSchoolOnline.com.

This is mainly due to the coronavirus pandemic, which has pushed the global economy into recession.

According to ForexSchoolOnline.com, Techstarts, Y Combinator and 500 Startups were among the leading investors.

Reportedly Techstarts have 183 funding rounds to its name. Y Combinator took part in 164 rounds and 500 Startups in 140 funding rounds, followed by Plug and Play, QED Investors, and Anthemis Group.

During the first quarter of 2020, fintech startups globally raised $4.6 billion globally, the same amount as during the same period in 2019; however, the second quarter in 2020 saw a negative trend, with $4.3 billion raised, a 36 percent decrease year-on-year.

Around $25.4 billion was raised by fintech startups globally in 2019 and around $33.6 billion in 2018.

A report published by Innovate Finance earlier this year revealed that UK fintech startups raised  over $1.84 billion in venture capital investments during the first half of 2020.

The findings show that the UK fintech market is still growing despite coronavirus, with investments up 22 percent in the first half of the year compared to the second half of 2019.

Husayn Kassai, co-founder and chief executive at Onfido said, “In the wake of the pandemic, multiple industries have been hit hard, but fintech is better positioned than most to weather the current storm.”

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