A rising star in Credit Suisse's equity division has left after less than 2 years, and speculation is swirling over who has poached her

  • Lucy Baldwin has left her role as global head of equity sales at Credit Suisse after less than two years, Insider has learned.
  • Baldwin is a rising star in finance. She was named a managing director at Goldman Sachs at 28 years old in 2011. She served as co-head of European equity research at Goldman before leaving in 2015.
  • Prior to joining Credit Suisse, Baldwin was an MD at Bank of America where she served as head of European equity sales.
  • Baldwin's next stop could be Citigroup, according to sources, where she would serve as global head of equity research. 
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A high-profile, young executive has departed Credit Suisse after less than two years in her role, Insider has learned.

Lucy Baldwin, who was a managing director and previously served as global head of equity sales at Credit Suisse, is no longer at the Swiss bank, according to a source with knowledge of the situation who spoke under the condition of anonymity to preserve relationships.

Baldwin first joined Credit Suisse in June 2019, according to her LinkedIn.

A spokesperson for Credit Suisse declined to comment. Baldwin did not return a request for comment. 

Baldwin's star has rapidly risen over the past decade. She previously served as an MD at Bank of America and Goldman Sachs. At the latter, she earned the distinction in 2011 when she was only 28 years old. In 2014, she was named to Forbes' 30 Under 30 list for finance professionals.

Read more: The high-flying executive who just left Bank of America is set to join Credit Suisse in London

As she departs Credit Suisse, Baldwin is ending a run of less than two years with the Swiss bank. Prior to landing at Credit Suisse, Baldwin was head of European equity sales at Bank of America from October 2015 to May 2019. 

But Baldwin's first foray into the world of big banks came at Goldman Sachs. After rising the ranks to co-head of European equity research at Goldman, she departed for Bank of America in 2015.

At Goldman, Baldwin did research on companies within the industrials sector, she said in a presentation at the University of Birmingham, her alma mater, in 2015, before developing experience in other verticals like luxury goods and retail. 

"Research has become, to some degree, commoditized," Baldwin said in that presentation. "But I do think that good-quality, fundamental research is still amazingly important to markets, and all its participants."

"When I joined the industry as an analyst, to be totally honest, we used to get pretty well-paid by clients for just informing them about companies and the industries in which they operate, telling them how it worked, because the information flow wasn't what it is today," she added. "Now everybody can learn about the luxury goods sector or whatever industry by spending a few hours on Google — so that means the bar's got higher on what good-quality research actually is."

Citi could be the next stop for Baldwin

Baldwin's next stop could be at Citigroup to serve as the new global head of equity research, according to sources with knowledge of the situation. 

A spokesperson for Citigroup did not return a request for comment in time for publication.

Read more: The real reasons behind Citigroup CEO Mike Corbat's retirement

Citi's equities division has battled to climb the industry league tables in recent years following some high-profile shakeups. Baldwin's potential hiring would look to inject new life into the firm's research unit, which fell in industry rankings in 2020.

Meanwhile, Citigroup is readying itself for a larger leadership transition next month, as Jane Fraser prepares to take over as CEO of the global bank from outgoing chief executive Mike Corbat.

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