Armstrong returns to fold at Credit Suisse

21 March 2007

Derek Armstrong has returned to Swiss bank Credit Suisse to become managing director in Hong Kong and steer the company's Asia Pacific debt financing operations.

Mr Armstrong re-joins the company after leaving to take up the role of head of Asia leveraged finance at Merrill Lynch in 2004

The hire, which will see Mr Armstrong oversee a team of 25 bankers, has come after a series of departures from the beleaguered bank, including the defection of Jon Pratt from head of Credit Suisse's Asia Pacific region to rival Merrill Lynch.

Following Mr Pratt's departure, Ping Tan, Patrick Liu and Anny Kim also moved from Credit Suisse's Asia debt financing arm to Merrill Lynch, where they are now under the stewardship of their old boss.

Mr Armstrong will formally take up his position in April, whereupon he will report to Vik Malhotra, head of global market solutions for Asia Pacific, and Lars Sorensen and Anton Douglas, who co-head Credit Suisse's Asian fixed income capital markets wing.

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