The Credit Suisse Quant MD surviving UBS' cull
Credit Suisse may have once been renowned in the trading space for its Crossfinder electronic trading system, but as we noted a few weeks ago, UBS is seemingly unmoved by this. Bloomberg reported in August that Crossfinder was being closed, and the presumption was that Credit Suisse people working for AES, the affiliated algorithmic-trading business, would be let go.
Maybe not.
Jonathan Tse, a Credit Suisse managing director and head of EMEA AES product, announced today that he's moving to UBS, where he will be EMEA head of electronic trading quant analytics, platform and product.
Tse says he will be moving to UBS to "help grow and drive the algo platforms." His retention by UBS indicates that it might have had some respect for Credit Suisse's trading infrastructure after all, but perhaps just wanted to develop systems that aren't synonymous with the Credit Suisse name.
Elsewhere, an area UBS is also receptive to Credit Suisse researchers. Joseph Barnet-Lamb, also London based, was Credit Suisse's EMEA head of technology and internet equity research; he is now UBS' EMEA head of media and internet equity research.
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