Departure lounge crowded at Crédit Suisse 26 March 2018New York Reporter: Brian Bollen
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Crédit Suisse in New York has confirmed that a number of job losses have taken place at its US prime brokerage business following the departure of global head of prime brokerage, Indrajit Bardhan.
Crédit Suisse has stated that those leaving from a cast of hundreds employed include: Jeremy Siegel, managing director and global head of the consulting team; Robert Leonard, managing director and global head of capital services; Clay Mason, a junior on capital introduction team; Mike Wingertzahn, managing director and head of Delta one sales; Gardy Berthoumiex, managing director and global head of the central collateral desk; Isabelle Krusen, director, prime services coverage; Julia Allen, director, prime services coverage; Stephen Webb, vice president, US equity finance trading; Mark Matulonis, vice president, prime brokerage transition management; Fred Nadd-Aubert, managing director and head of securities lending; Tony Palladino, director, securities lending; Shelby Tom, trading assistant, securities lending; Phil Maxim, vice president and delta one trader; and Jeffrey Janker, director, advanced execution services and trading coverage.
SLT reported on Friday the planned departure of Nadd-Aubert in a few weeks.
Crédit Suisse said that no units are set to close.
A spokesperson for Crédit Suisse explained that the bank continues to invest in the equities business and across the global markets division as evidenced by recent hires.
The bank has hired Paul Galietto as global head of prime services. The spokesperson added that Crédit Suisse remains fully committed to its global investment banking and equities offering.
The bank concluded by suggesting that the eye-catching reductions in staff numbers will not bring about a reduction in capital allocated to the business.
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