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Credit Suisse Overhauls Equity Derivatives Unit, Rauly Exits

  • Bank changes leadership at structured equity derivatives unit
  • Dufour, Biefern, BofA’s Agkpo to lead unit as Rauly departs
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Credit Suisse Group AG, the Swiss lender trying to make more money from trading stocks, overhauled the leadership at one of its derivatives businesses.

The Zurich-based firm promoted Julien Bieren and Thibault Dufour to global co-heads of equity derivatives structuring and hired Hippolyte “Hippo” Agkpo from Bank of America Corp. as global head of structured trading, according to an internal memorandum obtained by Bloomberg. Benoit Rauly, the former UBS Group AG banker hired last year as head of this business, is leaving as a result of the changes, according to the memo.