Credit Suisse's credit business lost two of its top guys
The exits from Credit Suisse's credit trading business appear to be coming thick and fast.
Sources say that both James Howard, head of fixed income investor products and Paul Bajer, head of credit structuring, have resigned.
Howard's next move is not known. Bajer is said to be joining Deutsche Bank although this has not been confirmed by DB.
The two exits are the latest in a spate of departures from Credit Suisse's credit trading business. In the past few weeks, Joe Steffa, the global head of securitized products trading, Brian Connors, who co-headed investment grade trading, Matt Perez, a managing director in investment grade sales, Mike Dryden, the former global head of securitized products finance, and Jonathan Moore, the global co-head of credit products, have all quit.
There may be more departures to come. Moore is understood to have been a popular boss and insiders says his acolytes are less inclined to stick around now that he's gone. Howard is also said to have been a "great boss." He'd been with the bank since 2001 and was Moore's number two according to insiders.
By comparison, Bajer was a comparatively recent hire: he joined Credit Suisse from UBS in 2013.
As we reported earlier today, Credit Suisse has also lost Mark Gibbs, its head of FX investor sales for the UK.
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