From today, Credit Suisse (Schweiz) AG has been deregistered from the Commercial Register of the Canton of Zurich and will no longer exist as a separate entity.

According to a statement, UBS Switzerland AG has succeeded all the rights and obligations of Credit Suisse (Schweiz) AG.

Read more: UBS’ Credit Suisse takeover: what you need to know

The Swiss entities being merged allows for the migration of clients and operations from Credit Suisse (Schweiz) AG to the UBS platform, following business, client- and product-specific requirements.

“The completion of the Swiss entities’ merger marks an important milestone in the integration of UBS and Credit Suisse. The migration of the majority of client transactions in Switzerland to the UBS platform will take place in 2025 and will be gradual, with tailored updates to our clients,” said Sabine Keller-Busse, president of UBS Switzerland.

“As the integration progresses, our clients will be able to access the capabilities and support of the combined firm. We will continue to focus on providing our clients with comprehensive services to achieve their financial goals and acting as a strong pillar of economic support in Switzerland.”

Read more: UBS agrees landmark takeover of Credit Suisse after intervention from Swiss authorities

Despite Credit Suisse (Schweiz) AG clients becoming clients of UBS Switzerland AG as part of the merger, they will for an interim period interact with UBS using existing Credit Suisse platforms and tools, except as specifically communicated.

André Helfenstein, chief executive of Credit Suisse (Schweiz) AG, has decided to leave the bank following the merger.

”Since the acquisition of Credit Suisse by UBS, André has made a substantial contribution to the stabilisation of Credit Suisse’s business and has been committed to our clients and our employees throughout,” added Keller-Busse.

“We thank him for his commitment and dedication and wish him all the best and success in his next steps.”

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Emily Facchina Fluet joins Jain as a trader working in London under head of EMEA trading, Jeremy Wyatt.

Jain Global declined to comment.

Fluet takes up her new role after serving at Credit Suisse for the last five and a half years, originally joining the bank in 2018 as an analyst.

She later worked her way through the ranks in various electronic sales trading roles, landing her most recent vice president role covering advanced execution services (AES), algorithmic and direct market access (DMA) trading for the Asia Pacific markets in January last year. Fluet parted ways with Credit Suisse in November last year.

Jain Global has found itself in the headlines repeatedly in recent weeks as it bulks out its numbers from all corners of the industry ahead of its launch, which is reportedly planned to take place this summer.

The start-up hedge fund is the product of former Credit Suisse and Millennium Management veteran Bobby Jain.

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Credit Suisse currently holds a 67% stake in the business line.

CSIP segment manages funds and associated mandates – including convertible bond funds – with a total of CHF 1 billion in assets under management.

Following the closing of the transaction, CSIP will rebrand as BANTLEON Convertible Experts, while still servings its clients as a convertibles manager.

“The CSIP leadership and portfolio management teams fully support the transaction and will remain unchanged,” the firm said in a statement.

UBS Investment Bank served as exclusive financial advisor to Credit Suisse on the transaction. The sale is still subject to customary regulatory approvals.

Last month, the merger of UBS and Credit Suisse officially completed within the expected timeline.

Read more: UBS, Credit Suisse takeover is over the line

UBS confirmed its intention to take over Credit Suisse March last year with the deal subsequently reported to be worth more than $3.25 billion.

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Neil Hosie has been appointed as global execution services head in a full-time capacity after joining UBS as part of its takeover of Credit Suisse last year. He took up the role on an interim basis in March.

Hosie originally joined Credit Suisse in 2017 as its head of equities Asia Pacific, later assuming responsibility of the asset class for both Asia Pacific and EMEA and eventually taking up the role in a global capacity in 2023.

Previously in his career he served as head of equity trading for Asia Pacific at Deutsche Bank and Deutsche Bank Securities for two years and 13 years, respectively. He began his trading career at UBS in Hong Kong.

“Neil brings broad experience and global client connectivity across the execution services business having overseen and worked closely with distribution, financing, research and ECM,” said the memo.

Brent Johnson

He replaces retiring global head of execution services Brent Johnson, who has been with UBS for the last 26 years.

“He has been a highly valued member of the Global Markets management team, successfully leading Global Markets Execution Services since its formation in 2021,” said the memo.

Johnson joined UBS as chief financial officer and chief operating officer in 1997 and during his multi-decade tenure has served in several capacities at the bank including as head of South African equities, CEEMA equities, European cash trading execution, and cash equities for EMEA.

He took up the role of co-head of global markets execution and platform in 2019, later assuming his most recent role as global head of execution services in 2021.

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He most recently oversaw the European mid-cap team at the firm at Credit Suisse. In his new role, Celotto will be based in Kepler’s London office. 

Speaking in a social media post at the time of his departure, Celotto asserted: “After 16 years of buying, selling and crossing European and emerging stocks at Credit Suisse, it’s time for a fresh start. 

“While I’m sad to leave and about how it ended, I’m excited for new challenges and opportunities ahead. It’s been an honour to work with and meet so many fantastic people during my time there.” 

Kepler Cheuvreux has 13 major financial centres across Europe and the US including in: Brussels, Frankfurt, Geneva, London, Madrid, Milan, New York, Paris, and Zurich. 

Read more: Fireside Friday with… Kepler Cheuvreux’s Shiva Subramaniam

Speaking in an announcement, Kepler stated: “We are delighted to announce the arrival of Andrew Celotto as equity high Touch trader […] our mission is to be the most trusted, agile, multi-local agency broker, building solutions which clients love.”

Last November, Kepler Cheuvreux Execution Services (KCx) appointed a new equity sales trader, adding Sophie Egan to its high touch sales trading team, based in London. Egan joined from Morgan Stanley where she spent the last two years in the same role.

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Jennifer Pyrka Turner moved to Instinet to take up the reins as head of Americas execution sales, according to an announcement on social media.  The move followed a 19-year stint at Credit Suisse, most recently as managing director, head of AES sales Americas at Credit Suisse. In this new role, Pyrka Turner is based in New York and continues to operate across the Americas region. 

Dan Childs departed from his role as managing director, head of European prime services sales, EMEA to join Balyasny Asset Management, taking on the role of head, cash and liquidity management at the hedge fund. Childs previously spent almost three years with Jefferies after co-founding treasury technology start-up Kayenta in 2018. Prior to this, Childs spent the bulk of his career at Citadel, his final role as international COO after previously heading up treasury and operations. He began his career as a software developer before joining RBC and then Societe Generale.

Cboe Global Markets appointed leading industry figure Natan Tiefenbrun president of North American and European equities as part of the leadership changes announced last month, The TRADE revealed. The new role expands on his previous position as president of Cboe Europe, now also overseeing North American cash equities. This took effect as part of broader leadership changes announced by Cboe in October, which included Adam Inzirillo, previous head of North American equities being appointed the new global head of data and access solutions. Additionally, New York-based Oliver Sung was named head of North American equities in his stead, reporting into Tiefenbrun.

Janus Henderson promoted from within for its new head of equity trading for EMEA with Glen Pattison to take up the role in December after five years at Janus Henderson, having joined in 2018 as a senior trader. Prior to that he spent 11 years at Instinet. Pattison replaces departing Richard Worrell who is set to join the London Stock Exchange Group as its new head of secondary markets sales and business development, as revealed by The TRADE in October. 

FlexTrade Systems appointed Michael Kovach Americas head of fixed income sales in a move set to further drive the growth and adoption of FlexTrade’s fixed income EMS, FlexFI. In his new role, Kovach is set to be based out of New York and leverage his experience in electronic trading solutions. Prior to this appointment Kovach was lead relationship manager at BlackRock Aladdin, and before that spent four and a half years with Liquidnet, most recently as head of fixed income sales US.

Credit Suisse’s global head of FX, John Estrada, is set to leave the bank after 12 years, according to an announcement on social media. Estrada was promoted to co-head of FX last July, before becoming the sole head. Prior to that, he held various senior positions including global head of e-macro and global head of eFX trading. Estrada has previously worked at BNP Paribas and Sun Trading as eFX trader and financial engineer, respectively, and before that worked as a trader for Lehman Brothers. So far Estrada’s next step is unconfirmed.

The post People Moves Monday: Balyasny Asset Management, Nasdaq, Instinet and more… appeared first on The TRADE.

Estrada was promoted to co-head of FX last July, before becoming the sole head. Prior to that, he held various senior positions including global head of e-macro and global head of eFX trading.

Estrada has previously worked at BNP Paribas and Sun Trading as eFX trader and financial engineer, respectively, and before that worked as a trader for Lehman Brothers. 

So far Estrada’s next step is unconfirmed. Credit Suisse has seen a sweep of personnel changes in recent times, following its acquisition by UBS earlier this year, and over the last quarter, other high profile ex-employees have joined firms including Instinet, Wells Fargo, TD Cowen, and RBC. 

Read more: UBS makes cuts to cash equity division in London following the takeover of Credit Suisse

UBS agreed to buy the Swiss bank back in March, in a marriage orchestrated by the Swiss government and at the time was viewed with trepidation by some as there were concerns it would trigger widespread jobs losses in the UK.

Credit Suisse employed about five thousand people in the City before the takeover.

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The move follows a 19-year stint at Credit Suisse, most recently as managing director, head of AES sales Americas at Credit Suisse. 

In this new role, Pyrka Turner will based in New York and continue to operate across the Americas region.

The Swiss bank has seen a sweep of personnel changes in recent times, following its acquisition by UBS earlier this year. Over the last quarter, ex-Credit Suisse experts have joined firms including Wells Fargo, TD Cowen, and RBC.

Read more: UBS makes cuts to cash equity division in London following the takeover of Credit Suisse

UBS agreed to buy Credit Suisse in March, in a marriage orchestrated by the Swiss government and at the time was viewed with trepidation by some as there were concerns it would trigger widespread jobs losses in the UK. 

Credit Suisse employed about five thousand people in the City before the takeover.

The post Credit Suisse veteran joins Instinet as head of Americas execution sales appeared first on The TRADE.

During his tenure, Vincent has held various positions across Credit Suisse, most recently as head of AES sales trading, based in London.

He worked on the client coverage team of Credit Suisse’s agency electronic trading platform, Europe, focused on bespoke execution consulting and strategies.

Read more: UBS hires four ex-Credit Suisse individuals amid wider organisational restructuring

In his most recent position, Vincent led a team of sales traders, overseeing the restructured coverage in the aftermath of Brexit, as well as managing the review and deployment of algorithms and implementing T-1 related changes for business operations.

TD Bank Group completed its all-cash $1.3 billion acquisition of Cowen in March – following an initial announcement in August 2022. The plan was to create an integrated North American dealer to significantly advance its growth strategy in the region, specifically through the addition of Cowen’s US equities sales trading, execution, and research offering.

The company is one of four nominees for The TRADE’s Editors’ Choice Award for Best Broker Electronic Trading Initiative award, with winners to be announced on 8 November at Leaders in Trading 2023.

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The internal communication – sent by Spyros Mesomeris, global head of structuring – highlights that the structure is set to be organised vertically per global product pillars, and subsequently horizontally as pertains streams and regions, as the business takes its structuring to the next level. 

The teams will be fully interlinked, working to ensure a seamless delivery, The TRADE understands. Of the 12 appointments, four individuals are external hires for UBS, assuming leadership roles as part of the next step in the business’s evolution. They join eight other new appointments set to lead distinct areas. 

In the vertical global product pillars, Adrian Bracher has been appointed to lead macro structured solutions (rates and FX), having joined UBS this month. Ramzi Issa has been named structured credit and sustainable credit products lead, joining the business in November, as is Julien Bieren, soon to lead equity structured solutions.

Also in the vertical restructure is Guilio Alfinito, appointed to lead QIS structuring, and Richard Walters, new lead of fund derivatives and structured finance solutions.

Under the horizontal set-up, Romain Barba will join the business in November to be co-lead of APAC structuring alongside Ahmad Chaudry, while Chris Cook will head up Americas structuring.

In addition, Erica Yeu will lead wealth management solutions, while Ahmad Chaudry leads wrapping solutions and Hannah Vinci oversees strategic products. Mesomeris, in addition to his global role, will head up EMEA structuring.

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