Credit Suisse First Boston has brought all of its European debt businesses together into one unit, including origination, securitization and credit derivatives. John Zafiriou, head of European fixed-income, says the firm is moving to one platform to take a unified approach to clients. The unified group will also include treasuries and short-term instruments, foreign exchange, asset finance, liability management, corporates, financial institutions and sovereigns. J.P. Morgan Securities has a similar organizational structure. No layoffs are believed to be involved in this move.
A senior banker whose role has been expanded to include responsibilities for origination and client relationships will head each country in Europe where CSFB has a presence. Positions to head the financial institutions, sovereigns and corporate debt groups have also been created. Anthony Faulkner and Manuel De Soza-Girão have been appointed as co-heads of financial institutions liability management. The heads of the sovereign and corporate debt groups have not yet been named.