Credit Suisse has been quietly adding senior bankers to its U.S. operations even as it reshapes its investment bank and cuts headcount in London.
Rose Lee, who was most recently a managing director at Goldman Sachs in New York, has just joined Credit Suisse as head of structured products development within its global markets and equity derivatives business.
She had been at Goldman since 2002, and was latterly a managing director and head of institutional structured notes. She was promoted to MD in 2009.
Meanwhile, John Nadel, a veteran equity researcher who was latterly a managing director at Piper Jaffray, has also joined Credit Suisse in New York as a managing director. Nadel covers the U.S. life insurance industry and was at Piper Jaffray for just over a year before his move across to Credit Suisse. Before this he spent six years at broker Sterne Agee, where he also covered the U.S. life insurance industry.
Credit Suisse has also hired Paul Bieber as a research analyst focused on the internet sector. He joins as a director, but was previously a vice president focused on internet firms at Merrill Lynch. He worked in its San Francisco operation for over six years.
Credit Suisse has never said that it was freezing hiring in its investment bank, but in March CEO Tidjane Thiam said that it would be both increasing the speed and number of job cuts within its markets business. However, in its Q2 results in July, Credit Suisse revealed that there were around 150 more roles within its global markets business than at the same point in 2015. This is despite the fact that around 1,200 jobs has disappeared from its UK operation.