A Credit Suisse credit trader quit while the boss was visiting
Credit Suisse bonuses haven't been paid disclosed or paid yet, but as we noted yesterday, this doesn't seem to be discouraging some people from leaving the Swiss bank.
Following the exits of Michael McCormick, the London-based head of debt capital markets (DCM) advisory, and Shanx Tandon, the head of EMEA financials DCM syndicate for Bank of Montreal yesterday, sources at the bank say that Alessandro Pelleriti, a credit trader, has resigned today.
Pelleriti had been at CS in London since 2017, when he moved to the City from MPS Capital Services in Siena. It's not clear where he's going next.
Pelleriti's exit is understood to coincide with another visit from Joel Kent, the global head of credit products, whose visits to London are perceived to relate to attempts to boost morale.
Last year, numerous members of Credit Suisse's credit sales and trading team quit, including Karen Miles, the EMEA head of high yield trading, who left in December. Many are thought to have gone to Deutsche Bank.
Credit Suisse has indicated that bonuses this year are likely to be down. A proportion will also be paid in cash that can be reclaimed, plus tax paid, if recipients leave within three years.
Credit Suisse declined to comment.
Click here to create a profile on eFinancialCareers. Make yourself visible to recruiters hiring for top jobs in technology and finance.
Have a confidential story, tip, or comment you’d like to share? Contact: email@example.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.)