A $5.6 billion hedge-fund unit of UBS AG hired former Credit Suisse Group AG (CSGN) corporate-debt trader Nathan Bohn as it expands its credit group.
Bohn will join UBS O’Connor as an executive director, Casey Talbot, head of global fixed-income strategies, said in a telephone interview. Bohn departed Credit Suisse in March after working at the firm’s New York office since 2004, according to Financial Industry Regulatory Authority records.
Bohn joins a growing group of traders departing Wall Street’s biggest banks for credit hedge funds, which have amassed more assets than ever before. Alternative investment managers are attracting investors seeking returns regardless of the market’s direction at the same time that banks cut the amount of money they use to buy and sell riskier debt in the face of new regulations.
Credit Suisse spokesman Drew Benson and Bohn declined to comment.
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