Swiss banking giant Credit Suisse has on-boarded Tim Joyce to its FX options trading desk. He is taking on the role of Head of London FX Options Trading after 5 years at Deutsche Bank where he was running London flow trading and managing a number of foreign exchange options markets for the company including EUR/USD and Japanese yen.
Joyce has been in the foreign exchange industry since 2000, when he joined Dresdner Kleinwort Wasserstein’s London Desk. He traded FX spot and forwards, NDFs and interest rate swaps. He later joined the teams managing EM External Debt & Credit Default Swaps and later, the firm’s FX options desk.
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The new senior executive of Credit Suisse also co-headed the Central & Eastern Europe, Middle East and Africa FX options desk at JPMorgan Chase for seven years.
Credit Suisse recently began revamping its markets business. Bloomberg News reported this morning that the company is cutting 35 jobs at its equities desks in Asia. The company is slated to cut more staff in the region in trading, sales, prime brokerage and research positions according to source cited in the article.
The restructuring of the company’s Asian trading business will continue over the second quarter of this year. Back in March, Credit Suisse hired Ken Pang to run the company’s Global Markets business in Asia.