Credit Suisse merged its global credit and structured finance groups on Wednesday as part of the bank's wider restructuring, according to a market source with knowledge of the situation.
In the meantime, the news agecny also reports that the wealth management arm of the bank UBS said on Wednesday it has hired Gregory Achten, managing director of Bank of America Merrill Lynch's Boston complex, to lead its Cincinnati complex, one of the largest in the firm.
UBS Wealth, the biggest wealth manager in the world with $1.9tril in assets, said Achten will begin his new role on April 18 and will replace Troy DeBord.
Finally, Reuters also reports that Michael Gilbert, an investment banker focused on advising media companies, has left Credit Suisse to join former Morgan Stanley rainmaker Paul Taubman's PJT Partners, people familiar with the matter said.
Gilbert, a managing director, has been with Credit Suisse since 2004, according to his LinkedIn profile. He will join PJT in New York in June, the people said this week, asking not to be named because the move has not yet been officially announced.