MOVES-Credit Suisse to move prime brokerage exec to London-sources

Fri Jul 25, 2014 9:38am EDT

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By Nishant Kumar

LONDON, July 25 (Reuters) - The prime brokerage unit of Credit Suisse will move one of its senior executives, Paul Caseiras, from New York to London, two sources with knowledge of the matter said.

The Swiss bank will relocate Caseiras in September to be part of the unit which provides services such as clearing trades and lending money to hedge funds.

A Credit Suisse spokesman declined to comment.

The move is the latest in a series of personnel changes in the prime brokerage industry, especially in Asia, that have involved several top executives moving on to focus on bigger hedge fund markets such as in Europe and the United States.

Citigroup Inc moved its Asia Pacific head of prime brokerage sales and capital introduction, Martin Visairas, to London this week.

Deutsche Bank also moved its head of prime finance distribution for Asia Pacific, Harvey Twomey, to London this year. Jason Berry, who was part of Goldman Sachs Group's hedge fund consulting team, also moved to the city this year to join Bank of America Corp.

Earlier this year, Brian Bigos left Credit Suisse before joining prime services sales at JPMorgan Chase in Hong Kong in May, records with regulator Securities and Futures Commission show.

Herve Brunel also left Credit Suisse this year to join the Wall Street bank's prime brokerage sales team for Europe in London, according to his LinkedIn profile.

A JPMorgan spokesman confirmed that the two executives had joined the bank but declined to give their joining dates. (Editing by Simon Jessop and David Holmes)

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