Discover your dream Career
For Recruiters

Credit Suisse's rates business has been decimated as promised

When Tidjane Thiam announced his plan for Credit Suisse last October, he promised to get out of UK macro trading. Seven months later, he's been true to his word.

Ex-Credit Suisse insiders say all but one of the London-based rates sales team has departed. Stefano Di Angelo, a macro rates sales director, has gone. Rik Tremerie, a rates sales director, has gone. Ben Harvey, a rates sales director, has gone. So have Michele How (another director), Huw Roberts (a senior director) and Mark Tiernan (former head of UK rates sales), plus two juniors. "We were nine and now there's only one of us left," says one of the departed.

The last surviving rates salesperson at Credit Suisse is said to be David Dean, a Cambridge-educated economist who's worked for the bank since 2009. He's said to be there to close the book.

Credit Suisse declined to comment on the travails of its London rates staff.

The good news, however, is that some have new jobs. Tiernan has already joined Deutsche Bank. We deduce that Deutsche has an appetite for rates hires, given that it also added Bennit Shah from BNP Paribas in January.

author-card-avatar
AUTHORSarah Butcher Global Editor

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Latest Jobs
AXA Investment Managers
VIE - Data Scientist
AXA Investment Managers
Stamford, United States
Deutsche Bank
Know Your Client (KYC) Analyst
Deutsche Bank
Jacksonville, United States
QBE Insurance
Security Analyst
QBE Insurance
Sun Prairie, United States

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.