Credit Suisse Hires Ex-Deutsche Bank Trader Li for Macro-Trading
(Bloomberg) — Credit Suisse Group AG hired former Deutsche Bank AG proprietary trader John Li and two others for its U.S. macro-trading team.
Li, who’s leading what the bank calls a new cross asset trading function, started this month in New York, along with Kunal Maini and Ajay Totlani, according to a memo from Shane O’Cuinn, the head of global macro products trading for the Americas. Drew Benson, a spokesman for Zurich-based Credit Suisse, confirmed the contents of the memo.
The three “will help us continue to build our business momentum as we start what promises to be a very interesting year in the macro product space,” O’Cuinn wrote in the memo.
Currency markets are more volatile as central banks alter monetary policies, giving banks more opportunities to trade. Credit Suisse, Switzerland’s second-biggest bank, reported positive trading results on currency swings this month after the nation’s central bank allowed the franc to trade freely against the euro.
Maini, who previously worked for Barclays Plc, joined Credit Suisse as head of linear rates reports to O’Cuinn along with Li. Totlani, formerly of Societe Generale SA and Bank of America Corp., leads U.S. inflation trading operations and reports to Ty Smith, who oversees U.S. Treasury trading. Kevin Story, previously a macro trader at Barclays, joined Credit Suisse in November, said a person familiar with the matter, who asked not to be identified discussing personnel.
The Wall Street Journal reported the hires earlier Friday.
To contact the reporters on this story: Elizabeth Dexheimer in New York at edexheimer@bloomberg.net; Jing Cao in New York at hcao38@bloomberg.net To contact the editors responsible for this story: Dan Kraut at dkraut2@bloomberg.net Peter Eichenbaum, Dan Reichl
