Credit Suisse First Boston has hired Sam Vulakh, a credit derivatives trader at Bear Stearns in Tokyo, in a similar position. The firm obtained a credit derivatives license for Japan in late March and has been building its operation since then, according to traders familiar with the firm. Vulakh could not be reached and a CSFB spokesman declined to comment.
Vulakh will report to Takeshi Nakanishi, director, fixed-income, who declined to comment. CSFB earlier this year hired Nakanishi from Goldman Sachs to head the credit products team (DW, 5/6), and Vaibhav Piplapure, v.p., structured products, from Barclays Capital (DW, 5/28).
An official at Bear Stearns in Tokyo said the firm has yet to decide on a replacement for Vulakh but added that a trader from New York had flown in last week to keep the desk running. The official declined to elaborate.
