Following the departure of its head of equities trading, Credit Suisse is now splitting the role.
Credit Suisse appoints Neil Hosie and Doug Crofton as co-heads of cash equities globally, succeeding Anthony Abenante in the role.
Hosie will focus on Asia Pacific, Europe, Middle East, and Africa (EMEA), while Crofton will lead the Americas, both reporting to Ken Pang and Michael Ebert, co-heads of the bank's new Markets division.
Massive Drop in Trading
A Credit Suisse spokesperson confirmed to finews.com a «Bloomberg» (behind paywall) report. Abenante will work with both Hosie and Crofton to ensure a smooth transition.
The changes in equity trading management come amidst a major restructuring of Credit Suisse. Equity trading plunged by more than half in the third quarter and reported its fourth consecutive quarterly loss.
Hosie took over as head of the equities business in EMEA last year, following the departure of Ryan Nelson, while Crofton was named cash equities head for the Americas.
