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(Bloomberg) -- Credit Suisse Group AG has hired two senior equities executives in Asia from Deutsche Bank AG, a person familiar with the matter said.
Neil Hosie will join the Swiss bank as head of equities for the Asia-Pacific region, the person said, asking not to be identified because the matter hasn’t been publicly disclosed. Patrick Kelly has been hired as Asia-Pacific head of equity client trading and execution, the person added.
Representatives from Credit Suisse and Deutsche Bank declined to comment, as did Kelly. Hosie couldn’t immediately be reached for comment.
At Deutsche Bank, Hosie headed Asia-Pacific equities trading and Kelly was a managing director and head of facilitation trading. Both men resigned from the German bank last week, according to people familiar with the matter.
Deutsche Bank’s trading unit lost market share in the fourth quarter as Chief Executive Officer John Cryan cut assets and clients concerned about the company’s finances pulled back. The bank’s equities business was still “flattish to slightly down” in January compared with a year earlier, though the firm’s debt-trading business saw a 40 percent increase in the month, Chief Financial Officer Marcus Schenck said on a call with analysts in February.
The departures of Hosie and Kelly follow a decision by Anthony Byrne, formerly Asia-Pacific head of prime finance and Japan equities, to leave Deutsche Bank earlier this year.
Hosie had previously been Deutsche Bank’s Asia head of equity trading, ex-Japan and Australia, for about 13 years, according to his LinkedIn profile.
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