Ira Jersey, who heads U.S. interest-rate strategy at Credit Suisse Group AG, is departing the firm for an undisclosed position.
“For 12 of the last 13 years it has been my honor to work with my extremely talented colleagues and friends at Credit Suisse,” he wrote in an e-mail Monday. “Sometimes opportunities arise that cause one take a different direction in their career. Today will be my last day.”
Jersey joins of growing stream of debt analysts who’ve left lenders including Credit Suisse and Deutsche Bank AG during the past two years. Many have joined hedge funds, including Apollo Global Management, BlueMountain Capital Management and CQS.
Banks’ fixed-income businesses are being squeezed by rules requiring them to hold more capital and take less risk. As they pull back, analysts are departing for investment firms, underscoring the shift in power toward money managers that are increasingly dictating the future of credit markets.
Nicole Sharp, a spokeswoman for Credit Suisse, declined Tuesday via e-mail to comment on Jersey’s departure.
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