Credit Suisse Group AG, Switzerland’s second-biggest bank, appointed Chris Corson and Todd Sandoz to oversee a new division that will combine the firm’s currency and fixed-income businesses.
They will oversee the Global Currencies and Emerging Markets Group, a merger of the Zurich-based bank’s foreign-exchange and emerging-markets fixed-income divisions starting Jan. 1, according to an internal memo from global securities co-heads Gael de Boissard and Tim O’Hara and obtained yesterday by Bloomberg News. Steven Vames, a bank spokesman, confirmed the memo’s contents and declined to comment.
Credit Suisse named Ben Shooter as head of global sales for the new unit, according to a separate memo. Braden Howarth will become sales chief in Europe, the Middle East and Africa, while Molly Duffy will oversee sales for North America, according to the memo.
David Tait will rejoin the company as head of the division’s currency trading and arrives from UBS AG, the biggest Swiss bank, where he was global head of macro directional trading, according to one of the memos.
The reorganization was reported earlier yesterday by the International Financing Review.
Mike Hodgson, who was head of fixed income for the emerging-markets group at Credit Suisse, will take a sabbatical after 19 years at the bank to train for the World Masters Swimming Championships and return to a new role in September, according to a memo. Martin Wiedmann, head of global foreign-exchange sales and distribution, will leave the firm, IFR reported without disclosing how it got the information.