Credit Suisse continues to bolster its stock trading unit with two more senior hires - including a new head of equity sales in the US
REUTERS/Stefano Rellandini/File Photo
- Credit Suisse is adding more firepower to its stock trading business.
- Alexander Englander is joining Credit Suisse from Barclays as its head of equity sales in the Americas, according to people familiar with the matter.
- Anthony Buoscio is also joining the Swiss bank from Bank of America Merrill Lynch, where he was a managing director.
- These are the latest in a string of splashy hires by Credit Suisse in the past year to bolster its equities unit even as the bank transitions its model broadly to focus more on wealth management.
Credit Suisse is bolstering its equities business in the US with new senior talent as it tries to grab market share from Wall Street stock trading leaders Morgan Stanley, Goldman Sachs, and JPMorgan.
Alexander Englander has joined the Swiss bank from Barclays as the head of equity sales in the Americas, according to people familiar with the matter.
Anthony Buoscio has joined Credit Suisse as a managing director in equity salestrading. He was hired from Bank of America Merrill Lynch, where he was a managing director in its New York salestrading unit, according to people familiar with the matter.
Representatives from Credit Suisse and Bank of America did not immediately respond to requests for comment. Barclays declined to comment.
The moves add further firepower to the equities team at Credit Suisse, which has loaded up on talent in the past year. While Credit Suisse has transitioned its model to focus more on wealth management, it has ambitions to build out its equities unit as a way of flowing business from wealthy hedge fund clients into its private bank. The build out also comes as banks reported record equities revenue in the first quarter, as volatility sparked and markets whipsawed back and forth on account of fears of a potential US trade war.
Mike Stewart, who was hired away from UBS last summer to run global equities, aims to make Credit Suisse a top-5 player in the business. It was seventh in equities revenues in 2017, according to Bloomberg.
"We have more than sufficient resources to be a top-five equities player," Stewart told Bloomberg.
In addition to Stewart, the bank also made a number of other significant hires, including Michael Ebert from Bank of America as global head of equity derivatives; Doug Crofton from Bank of America as US head of equities sales and trading; and Paul Galietto, formerly of UBS, as its head of Americas equities (he also assumed the role of global head of prime services in February).
Englander was head of New York and middle market sales at Barclays, where he worked for 18 years, including his time with Lehman Brothers. He will report to Galietto and to Eric Miller, the global head of equity sales, according to people familiar with the move.
Buoscio worked at Barclays for 15 years before joining Bank of America in 2015. He'll report to Greg Karcich, a managing director in Credit Suisse's sales and trading department.
Get the latest Bank of America stock price here.
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