Credit Suisse Group AG’s departures continue with its head of blank-check companies leaving after the fortunes of both the bank and the product have changed.

Niron Stabinsky, the head of special purpose acquisition companies and permanent capital, is leaving the Swiss bank to join Banco Santander SA, according to people with knowledge of the matter.

Ryan Kelley, a Credit Suisse director, will also join Stabinsky at the Spanish lender, said the people, who asked not to be identified discussing private information.

Stefanie Gallagher, a managing director on the Swiss bank’s equity capital markets syndicate team, will also join the Spanish lender, the people said.

Representatives for Santander and Credit Suisse declined to comment.

Santander has snapped up top bankers from Credit Suisse as uncertainties loom around the UBS Group AG merger brokered by the Swiss government.

Steve Geller, who was Credit Suisse’s head of mergers and acquisitions, David Hermer, who was its global head of equity and debt capital markets, are both joining the Spanish investment bank.

Stabinsky was dubbed Mr. SPAC during the two-year surge of blank-check ventures that began in 2020. He has advised dealmakers such as Chamath Palihapitiya, Todd Boehly, Bill Foley, Barry Sternlicht and Chinh Chu.

Read more: Credit Suisse Notified by NYSE It’s Not Meeting Listing Rules

--With assistance from Liana Baker.

(Update in paragraph four with Gallagher’s departure.)