Funds News

MOVES-Credit Suisse hires BAML's Ebert for equity derivatives job -memo

ZURICH, Aug 24 (Reuters) - Swiss bank Credit Suisse has hired Michael Ebert from Bank of America Merrill Lynch as its global head of equity derivatives, according to a memo seen by Reuters.

A spokesman confirmed the contents of the memo, which was sent to staff on Thursday by Mike Stewart, Credit Suisse’s global head of equities.

“As I re-iterated at my first town hall in June, Equities is not only a critical part of the Global Markets strategy, but a critical part of the overall Credit Suisse strategy,” Stewart wrote.

Ebert, previously head of Americas equity derivatives at BAML, will be based in New York and will start at Credit Suisse on Sept. 5. He will report to directly to Stewart.

Under Chief Executive Tidjane Thiam, Credit Suisse’s three regionally focused divisions which house its wealth management operations are supported by two investment banking divisions: Global Markets, and Investment Banking and Capital Markets.

Ebert’s position is a new role within Global Markets’ International Trading Solutions (ITS), which Credit Suisse established in July to boost cross-selling between Global Markets and its private clients.

Stewart and Yves Alain Sommerhalder are co-heads of ITS.

Reporting by Joshua Franklin; Editing by Michael Shields