Tim Blake, co-head of structured credit derivatives trading at Credit Suisse First Boston in London, has moved to New York to replace Matthew Zames, co-head of global U.S. rates trading, who has jumped to J.P. Morgan (BW, 11/29).
Blake was head of dollar interest rate options trading before he moved to structured credit. He will cover derivatives, while Pat Haskell, the other co-head, will retain responsibility for cash. Blake declined comment and Haskell could not be reached.
Zames has joined J.P. Morgan as head of liquid markets trading. Zames' move at such a late point in the year was surprising given J.P. Morgan is expected to make him whole on the bonus he would have received for nearly a full year's worth of work at CSFB. However, recent departures at J.P. Morgan made a senior hire necessary, even if it was an expensive one, according to several fixed-income professionals. He will report to Patrik Edsparr, head of North American trading.