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Foreign Exchange

Credit Suisse hires senior trader from Barclays; new trading team build-out continues

Credit Suisse has hired Neilan Govender from Barclays as a senior global currencies trader, according to a spokesman at the bank.

Govender will commence his new role at the end of July, reporting to David Tait, head of global currencies and emerging markets (GCEM) FX trading, based in London. EuromoneyFXNews reported Govender had resigned from Barclays on Tuesday, where he was the bank’s head of emerging markets cash and options trading.

The hire is the latest appointment by Credit Suisse in a rebuilding of its FX trading team, after the hiring of Jim Lanzilotti from UBS in March as US head of global currencies trading, John Erratt from Barclays in February as a sterling spot trader, Tait, from UBS in November, and Danny Wise from Barclays in June, as global head of spot trading.

The series of hires comes at the same time as the firm merged its FX and emerging markets fixed-income businesses, from January 1, to form the new GCEM Group, led by Chris Corsen and Todd Sandoz.

“That’s an area which clearly is going to be a big growth driver, whether it be Asia, parts of Europe, certainly Latin America,” Sandoz told EuromoneyFXNews last month. “We have some really strong local franchises.”

Sandoz, who became global head of FX last May, has also merged the bank’s various FX electronic platforms together and is in the process of rolling out a new single-dealer platform, CS Plus.

Separately, the firm is also believed to have made some four redundancies in FX in New York last week, sources tell EuromoneyFXNews, including Steven Veneziano, a trader, and David Fulkerson, a senior hedge fund salesmen. The firm declined to comment.

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