Credit Suisse Group AG has tapped Dan McCarthy to lead its leveraged-finance trading business in the U.S.
McCarthy, who joined the Swiss bank from Citigroup Inc. in 2007, will report to David Miller, co-head of Credit Suisse’s credit products business. McCarthy was appointed as co-head of high-yield credit trading last year, succeeding Tim Brennan.
Drew Benson, a spokesman for the bank, confirmed the move. Reuters reported earlier about McCarthy’s new role.
The appointment comes amid a shuffling of roles at the Zurich-based lender after the firm announced plans earlier this year to speed up and increase cuts at the investment bank. Barry Zamore, the former head of U.S. loan trading, left the bank in April along with loan salesman Matthew Belmont and Christopher McManus, a distressed and high-yield debt salesman.