Credit Suisse’s Key CLO Unit Is Expanding After UBS Takeover
- Swiss bank is also looking to retain key staff for CSAM’s unit
- John Popp, head of the CSAM group, agreed to stay at UBS
This article is for subscribers only.
Even as UBS Group AG plans extensive job cuts for Credit Suisse’s workforce, there’s at least one place where it’s growing: the business of buying leveraged loans and bundling them into bonds.
The bank is looking to bring on professionals including credit analysts for the collateralized loan obligation team in its asset management unit, according to people with knowledge of the matter. It’s also worked to keep key staff in the business, the people said.