In Australia, the head of equities trading at Credit Suisse has reportedly left. The departure is a further indication of the impending restructuring in the bank's investment banking division.
Credit Suisse's head of Australian equities sales, David Buttenshaw, has left the bank to join a boutique financial advisory firm, «Reuters» reported, citing a person familiar with the matter.
Buttenshaw resigned on Monday to join Aitken Mount Capital Partners. The firm declined to comment to Reuters, as did Credit Suisse. Buttenshaw joined in October 2019, having previously worked at Deutsche Bank and stockbroker Bell Potter.
Investment Banking
Credit Suisse is currently under scrutiny ahead of Thursday's third-quarter results, coinciding with the outcome of a strategy review ordered by new CEO Ulrich Koerner.
Credit Suisse's investment bank is in large part responsible for its overall problems and is under particular scrutiny. According to a report in the «Wall Street Journal» (paywall) on Tuesday, a sale of the securitization business is close to completion. This unit involves lucrative deals in securitized debt products, often based on mortgages.
