Credit Suisse's head of global equities finally left in Hong Kong as colleague goes crypto
It was perhaps inevitable that UBS wouldn't want to keep Raj Mathur, Credit Suisse's head of global cash equities. Nonetheless, it took its time in letting him go.
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Mathur announced his departure from Credit Suisse on Friday, nearly 23 years after joining, nearly 18 months after UBS rescued Credit Suisse, and nearly a week after UBS officially closed the Credit Suisse merger. After "growing and building an amazing business", Mathur said he's spent the recent past "winding it all down."
Mathur's exit comes after UBS said last August that it planned to close AES (Algorithmic Execution Services), the Credit Suisse electronic trading platform that was once an industry leader. Mathur was formerly co-head of AES and was around from its inception in the early 2000s, when he said it was "a first mover in the algorithic trading space" and a "defining fintech of its time." Former colleagues lamented its demise: "It must have been heart-breaking to unplug AES after so many put so much creativity and hard work into making it the first, best agency algo on the street," said Alex Bennett, who worked with Mathur in Hong Kong in the early 2000s.
As Mathur moves on, other senior members of Credit Suisse's AES team are unearthing new jobs outside of UBS. Alex Roitgarts, Credit Suisse's New York based head of electronic trading IT, also announced Friday that he's joining institution-only crypto trading firm Crossover Markets as a managing director. Roitgarts declined to comment for this article, but it's understood that he'll be reporting to the CTO and overseening architecture and systems development,
Crossover was founded by Brandon Mulvihill, the former Jefferies managing director who told us two years ago that working in offices is "utterly inefficient."
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