Joseph Steffa started at Cerberus in New York this week, according to people familiar with the matter. NEW YORK, Sept 19 (Reuters) - Credit Suisse Group AG named Joe Steffa as global head of securitized products trading on Tuesday, according to an internal memo seen by Reuters. Sir John Major served as Prime Minister of the United Kingdom from 1990 to 1997 and is a Senior Advisor to Credit Suisse. The Swiss bank has been embroiled in a string of problems over the last two years, starting with aspying scandal in 2019 that led to the resignation of its CEO. Sources say that Eilert, along with various members of his team (allegedly Frank Fiorito, Leigh Dworkin, Brian Bowden and Jamie Schlim) resigned yesterday. Prior to joining Credit Suisse in March 2018, Guy ran the EMEA Equity Sales and Trading at Deutsche Bank, where he spent 15 years of his earlier career. For the most relevant services and products, choose your regional site. With 25 years experience in financial markets,specialist expertise in trading technology and workflows, market microstructure, and regulation. Related Stocks. Prior to joining Credit Suisse in 2011, Caroline worked for a number of institutions both in the private and public sector with a constant focus on EU policy and regulation, including at the French bank Socit Gnrale, at the European Commission and at the Federation of European Direct and Interactive Marketing (FEDMA). In 2019, he was presented with The George Bush Award for Excellence in Public Service the last recipient to be personally chosen by President George H W Bush. He joined the Army 40 years ago in 1982 on a university scholarship and graduated from the Royal Military Academy Sandhurst as an Infantry officer in the Irish Guards. He replaces Jim Buccola, who is leaving the Swiss bank. Prior to joining Vanguard, he held responsibility for multi asset trading at Edmond de Rothschild. Kent is the current head of global credit products at Credit Suisse. She represents Credit Suisse on the AFME Securities Trading Committee, a member of the Quorum 15 Equity Trading Advisory Board and an active member of FIX Trading community, where she co-chairs the FIX Protocol Business Practices and sits on MMT Steering Committee. Credit Suisse has appointed 208 new managing directors, a massive 58 more MDs than it promoted in 2020. Finma shocked debt markets when it ordered that SFr16bn ($17.9bn) of subordinated Credit Suisse bonds be completely wiped out as a condition of UBSs Mr. Burton serves as the Global Head of Commodities Contact our distribution team for additional information. Barry Zamore, head of US trading of performing loans at Credit Suisse in New York, previously left the bank. Claires background is in the fund management industry and in equity capital markets, working with private and listed companies. United States of America The long-fitful growth in the portion of trading volumes conducted on electronic venues has surged since the pandemic, and now stands at around 40 per cent in the US. Credit Suisse Southeast Asia FIG Head To Join Deutsche Bank In Coming Months: Report. Nearly 90 senior employees have parted ways with Credit Suisse in recent months, according to hiring announcements by other banks, a review of reported exits, and people familiar with the moves. More recently, it took a $5.5 billion loss tied to the collapse of Archegos Capital Management, a family-office client founded by hedge-fund billionaire Bill Hwang that lost $20 billion over several days in April tied to massive, concentrated bets held in swaps positions. BeforeDiscepoli left the bank, insiders say he actioned something called the 'Strategy Plan for Global Credit Products EMEA business,' under which the credit business within CS First Boston has all the core management based in U.S. Cuts have already been made to the European team. Ray holds a degree in Economics with highest honours from the University of North Carolina, Chapel Hill, and a Master's degree in Finance with distinction from London Business School. Bob Franz, who was head of US credit trading at Credit Suisse, and Ken Hoffman, head of distressed research and trading, will set up a new asset management firm to assist in servicing these assets and other similar assets in the future, according to the release. Sir John retired from the House of Commons at the UK General Election in May 2001. In combination with the recent issues around the supply chain finance funds, I recognize that these cases have caused significant concern amongst all our stakeholders," Gottstein said in a statement on Tuesday. Brian Chin, the investment banking CEO, and Lara Warner, the chief risk and compliance officer, are stepping down from their roles and leaving the bank, Credit Suisse said in a statement. Originally trained in computer and natural sciences, he was previously a programmer (or hacker as they were known then), writing and selling games in the early personal computer industry. Have a confidential story, tip, or comment youd like to share? WebFarzin Azarm, a 2o-year Credit Suisse veteran who had been a managing director as well as head of international trading and sales trading, is departing the firm, he announced He is Co-Chair of the FIX Trading Community Equity Business Practice Working Group. CEO Swiss Bank and CEO Region Switzerland. He holds a degree in Computing Science from the University of Edinburgh. Stay up to date with what you want to know. Kent will also need to charm some of Credit Suisse's most valued European credit traders. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Following the collapse of the three American institutions, Credit Suisses share price plunged on 15 March causing the Swiss central bank to step in with a $54-billion 86% of retail CFD accounts lose money. Credit Suisse Group AG s head of financial institutions group in Southeast Asia is joining Deutsche Bank AG, according to people familiar with the matter. **Director - Financial Services at Tier 1 Bank Competitive Package (Director level)**, "Singapore expats have reason to stop and think after the past week", Lazard's hard message for junior bankers as it cuts jobs, The second-tier universities that banks love, The 20 year-old financial services interns earning $20k a month. Kent is the current head of global credit products at Credit Suisse. Copyright 2023 CREDIT SUISSE GROUP AG and/or its affiliates. Strategy Plan for Global Credit Products EMEA business,' under which the credit business within CS First Boston has all the core management based in U.S. Cuts have already been made to the European team. Christopher Burton, CFA, FRM, is a Managing Director within Credit Suisse Asset Management, based in New York. It also comes as JPMorgan's European banking analysts are predicting a 16% drop in total global credit trading revenues across all banks between 2021 and 2022. The latter include Mike Eilert, the Swiss bank's head of US par loan trading. As part of the changes, senior non-agency trader Christian Wall and asset-backed security trading desk head Marshall Insley are also leaving Credit Suisse, according to a source familiar with the moves. Mr. Burton earned a B.S. Earlier in her career Elisa worked at the UK Financial Services Authority, the European Commission and Herbert Smith Freehills, where she qualified as a solicitor in 2003. After nearly a decade in the global industrials group, director, Global head of basic materials and distribution, Several Credit Suisse bankers are heading to, A group of Credit Suisse bankers defected to, Former managing director and biotech equity analyst. He will thus become a member of the He is also Honorary Colonel of the Irish Guards and of Oxford University OTC, chairman of several charitable trusts, and a member of the England Rugby mentoring team preparing the squad for the World Cup. The bank has hired Stephen Busby as head of convertible bond trading, from investment bank Stifel Nicolaus. Credit Suisse has named asset management boss Ulrich Koerner as its new CEO, who is tasked with scaling back investment banking and cutting more than $1 billion This has not been confirmed by BH. The bank has also been rebuilding its ranks with new hires, including in leadership roles. He led the firms agency equities execution services in the EMEA region, including its high touch, portfolio trading and electronic trading offerings. Credit Suisse was still unwinding its positions in stocks linked to Archegos, such as ViacomCBS and Discovery, Reuters reported on Monday, citing a source familiar with the trades. By YURI KAGEYAMA April 18, 2023. He is also Co-Chair of the FIX equities consolidated tape working group on data standards and a member of the AMF Commission Consultative, a senior advisory group on market structure issues organised by the French regulator. Steffa joined Credit Suisse in 2013 from the Royal Bank of Scotland, where he was a managing director in non-agency trading. Prior to joining Credit Suisse in 2005, Mr. Burton served as an Analyst and Derivatives Strategist with Putnam Investments, where he developed the team's analytical tools and managed their options-based yield enhancement strategies, as well as exposure management strategies. Anthony started his career at Morgan Stanley in the technology group, helping to design andimplement many of the earliest electronic trading applications developed. You are about to change your browser's location settings for credit-suisse.com. John Estrada, head of eMacro at Credit Suisse believes the creation of GTS has been a key enabler of innovative problem-solving over the past year, allowing the bank to really focus on understanding clients problems, rather than merely focusing on the story and the historic movements of gold, for example. Paul Galietto, the head of equities sales and trading, is stepping down, Insider has learned. WebRead CV. Kenton Cool has become a world-leading climber in spite of a major physical setback. CSGKF. Contact:sbutcher@efinancialcareers.comin the first instance. Remaining members of the European credit sales team include: Benjamin Ney Davoud, Elsa Laurent, Gian Vito Magistro, Zackarias Atallah and Tamsin Weaver. Last week, Credit Suisse's head of the financial institutions' group in Southeast Asia capital-intensive fixed-income sales and trading businesses. Copyright 1997 - 2023 CREDIT SUISSE GROUP AG and/or its affiliates. Duncan was also part of the team that successfully launched the Turquoise MTF. Are we missing anyone? Stay up to date with what you want to know. Dan joined Credit Suisse in 2003 from Morgan Stanley, where he began his career, and has nearly 20 years experience in Portfolio Trading and Delta One products. Sir John chairs the Campaign Board of Kings College London, and is also President and Patron of a number of UK and international charities. Based in New York, he's understood have arrived in London last night and to be staying all week in the wake of the exit of Diego Discepoli, the head of the European business, to Deutsche Bank. The head of equities sales and trading at Credit Suisse is also stepping down, a person with knowledge of the move said. As announced on August 22, 2022, Michael J. Rongetti has been appointed as the CEO of the Asset Management division on an ad interim basis and will report to the CEO in this capacity.
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