Credit Suisse's program trading team just quit for Macquarie
If your much-appreciated banking boss leaves and offers you lots of money to do the same (after a timely wait to allow for non-competes), you're going to follow him. This applies to Wissam Farrah, who's busy poaching ex-Citi staff for his new home at Nomura. It also applies to Daniel Kaye, who quit his job as the head of cash execution for pan-Euro markets at Credit Suisse in May. Kaye now works for Macquarie, and is luring various former CS colleagues to join him.
Kaye's latest recruits are said to be three members of Credit Suisse's London program trading team, the most senior of which is understood to be Kenneth Kane, Credit Suisse's former managing director of program trading.
Credit Suisse declined to comment, but Kane's ex-colleagues confirmed that he quit yesterday along with "others."
The hires represent a coup for Macquarie, whose March year end puts it on a different hiring cycle to other banks, which tend to slow recruitment in the final months of their fiscal year.
Earlier this month, Macquarie hired Emanuele Di Stefano from Citi as senior managing director in its quantitative investment strategies (QIS) business. Last month, it hired Tom Price from Morgan Stanley as head of commodities.
The fact that Macquarie's hiring this late in the year would appear to suggest that it's buying out bonuses in an effort to prepare for growth in 2018. Kaye didn't respond to a request to comment on the hires.
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