Credit Suisse Plans 130 Sales Hires in Rates, FX, Emerging Markets, Leveraged Finance
Credit Suisse's investment bank expects to hire a total of 130 sales professionals this year for global interest rates, emerging markets, foreign exchange and leveraged finance desks.
So says David Mathers, the investment bank's chief operating officer. His remarks Tuesday at a London cconference organized by Morgan Stanley were reported by Bloomberg.
The hiring plans break down like so: 40 each for rates and emerging markets, 30 for FX and 20 for leveraged finance.
The rates business at Credit Suisse has seen some high-level personnel shifts recently. Long-time Deutsche Bank fixed-income executive Jon Kinol is slated to come aboard in May as global head of rate products, a newly created position. Meanwhile, Dominic Konstam, global head of interest rates research at Credit Suisse, is jumping to Deutsche as of June 1.
Since the start of the financial crisis in 2007, Credit Suisse cut a total of 7,420 positions across the company, according to Bloomberg. Lately, however, its executives are sounding upbeat. Chief Executive Brady Dougan reportedly said the bank had a strong start this year. And Mathers said Tuesday, "There is still significant upside potential in many of our businesses," adding that M&A activity is poised to grow in 2010 "as long as financing conditions remain favorable." Rivals UBS and Banco Santander also have recently signaled plans to hire more investment bankers.