Credit trader quits Credit Suisse for Barclays
As we reported yesterday, rival banks are lining up to raid Credit Suisse talent after bonuses were paid.
Kru Patel, a director in corporate bond trading at the bank is leaving for Barclays.
Patel spent nearly nine years at Credit Suisse after joining from Commerzbank, where he spent nearly 8 years.
His exit follows a succession of other senior departures from Credit Suisse's trading business, including Basil Eggenschwyler, Credit Suisse's EMEA head of credit trading and sector strategy, in January 2022, Hamza Lemssouguer in 2020 and David Goldenberg in October 2021. Goldenberg, who was head of U.S. credit derivative trading at Credit Suisse, is now global head of macro credit trading at Barclays.
As a director in the trading business, Patel will have received a cash bonus that is clawed back (plus tax paid) if he leaves within three years of receiving it. This doesn't seem to have prevented his almost immediate exit.
Credit Suisse declined to comment.
Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com in the first instance. Whatsapp/Signal/Telegram also available (Telegram: @SarahButcher)
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)
