Credit Suisse has set up a new Dublin-based aviation financing subsidiary, naming Ray Sisson as its chairman.
SCALE Aviation will serve as an aviation conduit and liquidity provider to investors, aircraft lessors, manufacturers and airlines, and will operate as part of the bank’s existing securitised products business, which works within the global markets division.
Credit Suisse declined to comment on the launch date of the subsidiary, but a source familiar with the subject says it is expected “to happen soon”.
It is believed Sisson, who spent 20 years working in the aviation leasing industry before taking the position of managing director at Credit Suisse in June 2018, will continue in his current role, based in New York. In his most recent job prior to joining Credit Suisse, Sisson served as CEO and chairman at AVi8 Air Capital, the commercial aircraft leasing company he co-founded in 2016.
In a statement announcing the creation of the new body, Credit Suisse says: “SCALE will target short-term warehousing of aviation assets, and will assist aviation industry clients with fleet transitions, financing, and ease of execution to provide greater execution certainty around portfolio trading activities.”
It adds: “SCALE is not an aviation lessor and will not be building a long-term investment portfolio of aircraft.”