Neil Hosie becomes the new head of global equities at Credit Suisse, as the co-head of the unit departs.
Credit Suisse has a sole leader for its global equities unit, naming Neil Hosie to the position following the departure of the co-head of the business, according to a memo seen by finews.com Friday and confirmed by a spokesperson. «Bloomberg» (behind paywall), initially reported the change.
Doug Crofton with whom Hosie was co-head of the unit, is leaving Credit Suisse to pursue other opportunities. Hosie will be based in London and report to Michael Ebert, co-head of the markets division to whom he was already reporting.
More Than 20 Years of Experience
Hosie joined Credit Suisse in 2017 and was the co-head of global equities, before which he served as head of APAC & EMEA Equities, based in Hong Kong. He also served as a senior manager for equities and securities research activities for Credit Suisse's UK entities.
He has over 20 years of experience in Equities across cash trading, sales trading, electronic trading, and agency program business as well as facilitation, risk, and dealing across the region, according to Credit Suisse.
Global Equities Co-Heads
In November it was learned that Anthony Abenante, the head of global equities for Credit Suisse, was departing after a transition period and that his role would be split between Hosie and Crofton as co-heads. Hosie's remit was Asia Pacific, Europe, the Middle East, and Africa (EMEA), while Crofton was put in charge of the Americas, both reported to Ken Pang and Ebert, co-heads of the bank's new Markets division.
Crofton joined Credit Suisse in 2017 as the US Head of Cash Equities Trading and Sales Trading. Before that held multiple roles across the equities unit, including his most recent position as co-head of global equities, alongside Hosie.
The announcement comes as Credit Suisse is undertaking a major restructuring including cutting 9,000 positions and spinning off its capital markets and advisory business into CS First Boston.
