A senior FX salesman at Credit Suisse, who has spent the past 20 years working for big investment banks in London, has quit to lead the trading arm of a $400bn asset manager.
Enrico Casini, who was latterly a managing director and head of FX sales for Europe the Middle East and Africa (EMEA) for central banks and sovereign wealth fund clients at Credit Suisse, is now CEO of Pictet Global Markets UK.
Pictet Global Markets is part of Swiss private bank and asset manager Pictet Group, and carries out trading execution services for family offices, wealth managers, asset managers and hedge funds. It has 14 employees in London, but has been picking up some big hires. As well as Casini, Ashley Fox, a senior G10 FX trader at Standard Chartered, joined in August.
Casini will head up all institutional sales activity within its London office, which includes equities, FX and other fixed income products. He joined in July.
Casini has held various senior macro sales jobs at Credit Suisse since joining from Royal Bank of Scotland in 2010, where he was latterly head of European investors FX sales. He left Credit Suisse in June.
Credit Suisse has been losing macro sales and trading staff over the past 18 months since it restructured its markets business in 2016. FX cash and options was moved out of its global markets division and into its STS operations – part of its Swiss Universal Bank. While FX sales staff have been less impacted, a number of senior rates sales and trading staff departed last year, shortly after the bank announced the restructuring.
More recently, Steve Aldridge, Credit Suisse’s head of macro eSales, left the bank and has since re-emerged at fintech firm SafeScribe, as a managing partner for sales and strategy.
Credit Suisse’s ‘solutions’ business, in which its macro division now sits, was down 39% year on year on the second quarter.
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