Credit Suisse First Boston has set up a specialist marketing and sales team for major credit derivatives end users and boosted its structuring and trading capabilities. The group, dubbed flow credit derivatives coverage, is headed by Rob Lynn, managing director, according to market professionals. The firm has also hired Peter Nguyen, v.p. marketing to hedge funds and convertible arbitrage accounts at Merrill Lynch, to work in the new group. The firm set up the desk to cater to the growing demand from companies, such as hedge funds, insurance companies and banks' with large loan portfolios, who are regular users.
CSFB has also hired Joe McHugh, a credit derivatives flow trader at Deutsche Bank in New York, and transferred two of its professionals from its CDO origination team. Alan Yeoh, has joined as v.p. focusing on trading synthetic products, and Sherri King has joined as v.p. focusing on structured transactions. All three report to David Carlson, managing director and head of North American credit derivatives in New York.
