UPDATE 1-Credit Suisse to expand Asia prime services

lunes 18 de enero de 2010 03:06 CET
 

* To increase staff in Asia prime services by 15-20 pct

* Has hired ex-Goldman exec as director in capital svcs team

* Looks to capture business from global funds eyeing Asia

By Parvathy Ullatil

HONG KONG, Jan 18 (Reuters) - Credit Suisse CSGN.VX will increase the headcount in its prime brokerage team in Asia by 15 percent to 20 percent in 2010 as it aims to win business from the increasing number of global hedge funds eager to set up base in the region, a senior official at the Swiss bank said.

The bank has hired former Goldman Sachs (GS.N: Cotización) executive Deborah Lee as a director in its capital services team, Matt Pecot, the head of Credit Suisse's prime services for Asia-Pacific, told Reuters. Lee left the U.S. bank a year ago.

Lee, who has worked in the hedge fund and prime broking business for 10 years, will report to Benjamin Happ, head of capital services Asia Pacific, Pecot said.

Credit Suisse plans to add headcount in capital introduction and consultancy services amongst other areas, he added.

"We are being selective about the kind of and number of funds we sign up and building a multi-asset prime brokerage which does not just offer long/short," Pecot said.   Continuación...