Credit Suisse has appointed Osama Abbasi as head of global securities for Asia excluding Japan, according to an internal memo obtained by Reuters, part of a push by the Swiss bank to unify fixed income and equities in a single department.
Abbasi, who most recently led Credit Suisse''s securities structured derivative sales group in Europe and the Middle East, will assume his position, which is newly created, in April and will be based in Hong Kong.
He will report to Mike Ryan, who joined the bank last year from Goldman Sachs as head of global securities. Ryan''s hiring brought fixed income and equities under one roof within the bank, according to a person familiar with the situation. Abbasi will have a regional reporting line to Kai Nargolwala, Credit Suisse''s new Asia-Pacific CEO. In his new position, Abbasi will oversee all aspects of sales, structuring, trading and research for both equities and fixed-income, the memo said.
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