People moves: Credit Suisse acts fast

Chetam Sennik has left his role at Credit Suisse where he was considered a bit of a star on exotic options. Word is he’s off to join a former colleague at a certain US bank. Credit Suisse has acted quickly though and poached Jon Irving from CIBC. It’s bonus day today at CIBC, so it seems an odd time for Irving to have quit, although having only been at the bank for a couple of months, he may have felt he wasn’t in line for much while Sennik’s departure from Credit Suisse has almost certainly freed up lots of cash for its bonus pool. Irving, who former colleagues say has a lot of potential, was made redundant earlier in the year by Bank of America Merrill Lynch.