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Foreign Exchange

Credit Suisse hires new head of FX trading

Credit Suisse has hired David Tait, who left his position as global head of FX proprietary trading at UBS in October, as global head of FX trading, based in London, according to three people familiar with the situation. This is a newly created position, the people said.

 

Tait, who left UBS earlier this year, will start in January and report to Todd Sandoz, global head of FX and STIRT, who himself was only appointed in May, having previously been co-head of equities for the Americas. It is believed that Tait will be responsible for risk management and trading for both spot and options. Credit Suisse declined to comment. It will be Tait’s second stint with Credit Suisse, having also worked at Goldman Sachs, while more recently trading for the buy side with firms such as Bluecrest, Peloton Partners and Citadel, before he joined UBS in late 2009.

A keen mountaineer, Tait has climbed Mount Everest, the world’s highest peak, on four occasions.

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