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ON THE MOVE: Credit Suisse Lands Galietto for US Trading Head

Traders Magazine Online News, November 7, 2017

John D'Antona Jr.

Credit Suisse has hired Paul Galietto as head of Americas equities trading, according to an internal memo first seen by Reuters, in a move to boost its stock business. Galietto most recently was the chief of equities Americas at UBS Group AG and before that he worked more than 20 years at Merrill Lynch. Credit Suisse has made a number of senior hires this year in its stock trading unit under new equities head Mike Stewart. Those hires include Michael Ebert, who joined as global head of equity derivatives from Bank of America; Doug Crofton, who was brought over from Bank of America to run U.S. equities sales and trading, and David Bleustein, who became head of Americas equity research and had worked at UBS.

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Goldman Sachs lost one its technologists, David Ha, to Googleís Brain division. Ha spent the last 8 years at the white glove broker and departed as the Tokyo-based co-head of Japanese rates trading.

Cowen has appointed Larry Wieseneck and Dan Charney as Co-Presidents of the company. Both will report to Jeffrey M. Solomon, CEO of Cowen and Company and President of Cowen Inc. In their roles as Co-Presidents, Cowenís investment banking, capital markets and credit divisions will report to Wieseneck and the equities, prime brokerage and securities lending divisions will report to Mr. Charney.

The firm also announced the establishment of a Management Committee which will be responsible for the execution of the Companyís long-term strategy. The Management Committee, reporting to Peter A. Cohen, CEO of Cowen Inc., and Mr. Solomon, includes executives from across the organization:

  • Dan Charney, Co-President, Cowen and Company
  • Robert Fagin, Director of Research, Cowen and Company
  • Fred Fraenkel, Head, Cowen Investment Management
  • John Holmes, Chief Operating Officer, Cowen Inc.
  • Stephen Lasota, Chief Financial Officer, Cowen Inc.
  • Owen Littman, General Counsel, Cowen Inc.
  • Tom Strauss, Chairman, Cowen Investment Management
  • Larry Wieseneck, Co-President, Cowen and Company

Also at Credit Suisse, both Tish Ghosh and Andrew Pidgeon, have departed the firmís Hong Kong office to join hedge funds. Ghosh, a Credit Suisse MD and head of equities delta one and systematic trading for Asia Pacific, moved to Millennium Capital Management †as a portfolio manager. He had been with Credit Suisse since June 2014 and previously spent three years as Asia Pacific head of equities systematic trading at Merrill Lynch. He was a Barclays Vice President before that.

Pidgeon, who was a director in Delta One and Derivatives trading at the bulge firm, departed for Seganti Capital Management. He spent 7 years at Credit Suisse and also worked at Macquarie in Hong Kong as a derivatives trader.

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