April 24 (Bloomberg) -- Credit Suisse Group AG, the second-biggest Swiss bank, hired Morgan Stanley’s Geoffrey Drayson as head of European leveraged finance sales, according to a person with knowledge of the move.
Drayson will be responsible for high-yield bonds, leveraged loans and distressed credit sales, said the person, who asked not to be identified before an announcement is made.
Adam Clary has assumed part of Drayson’s responsibilities at Morgan Stanley, overseeing high-yield and distressed-debt sales for Europe, the Middle East and Africa, according to another person with knowledge of the move. Mikolaj Zieleznik will continue to run loan sales and sourcing, the person said.
Credit Suisse is the sixth most-active manager of deals in the $49.3 billion high-yield Euromarket this year with a 5.6 percent market share, compared with a No. 10 ranking last year, according to data compiled by Bloomberg. Morgan Stanley slipped to ninth place from fifth place last year, the data show.
Drayson didn’t return calls to his mobile telephone and an e-mail. Officials at Credit Suisse and Morgan Stanley in London declined to comment.