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Bloomberg
Credit Suisse Group AG has hired Joe Heyer from Ford Motor Co to oversee investment banking in the automotive technology sector.
Heyer’s coverage area will include autonomous vehicles, components and software, the bank said in a memo that was confirmed by a spokesman.
He will report to David Wah, the global head of technology, and will also partner with the global industrials group, according to the memo.
The newly created role at the bank reflects how technology has been upending almost every corner of the auto industry.
Electric-car makers led by Tesla Inc are taking market share from traditional players, while newly public ride-hailing companies Uber Technologies Inc and Lyft Inc are changing how people get around in cities.
These industry shifts have led to deals such as chipmaker Intel Corp agreeing to buy automotive sensor company Mobileye NV for $15.3 billion in 2017 and Amazon.com Inc leading a $700 million funding round in electric-pickup maker Rivian Automotive LLC this year.
Ford also invested $500 million in the company.