Traders aren’t just leaving Credit Suisse after the last bonus round, they’re arriving too.
In London, Credit Suisse has just poached Joel Robinson from RBC to join its global credit products business in EMEA at director level. Robinson, who was head of high yield and subordinated credit trading at RBC, joins Credit Suisse as the senior trader for investment grade cash trading and will lead the Swiss bank’s corporate hybrid trading franchise.
A Credit Suisse spokesperson confirmed the announcement, which reflects the bank’s commitment to its credit platform.
While traders are arriving at Credit Suisse in London, sources say equities professionals are leaving in Singapore.
Credit Suisse is understood to have lost Aaron Frankel, a director on its Singaporean hedge fund sales desk. Frankel is thought to be joining a competitor, although it’s not sure which one. Frankel wasn’t working in prime broking directly, but his exit comes after Credit Suisse closed its prime broking business last year, prompting claims that its hedge fund-related equities sales and trading business would struggle as a result.
Sources say several other equities traders and salespeople are also leaving the Swiss bank in Singapore. “Morale hasn’t been great,” suggests one.
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