03.22.2016
By John D'Antona

Trading Up: Turnover in CS High Yield; NYSE Hires Albanese

Bulge bracket broker Credit Suisse has seen its head of high yield trading depart the firm. Matthew Courey is leaving the firm, according to sources, as he has decided to shift his focus on philanthropic work and various charities. One insider said that a likely Courey replacement is Basil Eggenschwyler, currently the head of the firm’s London-based high-yield derivatives desk. Also on the high yield desk, Arjun Malhotra, an analyst, has been moved over to the trading desk to help fill the void left by Courney.

In the U.S., Credit Suisse has lured Simon Tasker to the firm. Tasker was formerly head of capital markets technology and a partner at Deloitte. He joins as a managing director with a focus on business transformation – to help the firm gain better trading and other operational efficiencies. Prior to Deloitte, he worked for Royal Bank of Scotland where he oversaw the integration of its investment bank and ABN Amro’s wholesale markets division from 2006-2012.

The Australia Stock Exchange has to search for a new chief executive officer in the wake of Elmer Funke Kupper, who has headed the group for the past four years, stepping down amid an investigation into an alleged bribery payment. The ASX board has replaced Funke Kupper temporarily with the exchange’s Executive Chairman Rick Holiday-Smith as the search for a permanent replacement takes place.

Also in stock exchange news, the New York Stock Exchange has hired Anthony Albanese as its new chief regulatory officer. He will oversee all regulatory compliance for NYSE listed companies and the reorganized NYSE regulatory affairs teams. Mary Brienza, the current chief regulatory officer, is set to in June. Previously, Albanese was the acting superintendent for the New York State Department of Financial Services, where he led a team of 1,400 staffers with oversight of 3,800 financial services entities. Albanese told Markets Media that he is currently forming his group and setting an agenda of initiatives for the coming year. Prior to NYSE and the DoFS, Albanese spent 13 years at Weil, Gotshal & Manges, where he was a partner specializing in securities litigation.

The NYSE has also promoted John Tuttle to it global head of listings. Tuttle has spent the last 10 years at the bourse in several high-ranking management roles, most recently as its chief of staff, where he served in client relationship management in both the private and government sectors. Working alongside Tuttle will be Garvis Toler, its global head of capital markets. The two will look to drive new IPO business growth. Both report to Tom Farley, NYSE group president.

Visium Asset Management alum and former portfolio manager Sandy Chin has teamed up with ex-TIAA-CREF director Bill Leach to launch a new hedge fund focused on consumer goods. The new fund, Tidal Bore Capital, will be based in New York and launch an inaugural long/short sector specific equity fund next month. Arsallan Akram has also joined the fund as its new COO. Akram comes from San-Francisco-based-prop trading firm Russian Hill Capital, where he worked for more than five years. Prior to that, Akram also was at Apex Capital Management, as director of U.S. operations and CCO, and at before that Merrill Lynch.

Featured image by treety/Dollar Photo Club

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