The Head of Spot FX Trading at Credit Suisse Martin O’Donoghue has left the company, multiple sources with knowledge of the matter have shared with Finance Magnates. A company spokesperson has not commented on the matter.
O’Donoghue left the firm after spending about 7 years at the Swiss bank. The former top FX desk executive was based out of London but was onboarded in May 2009 when he joined Credit Suisse in Zurich.
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Before joining the Swiss bank he worked at Bank of America’s spot-trading desk. He left the firm after four and a half years.
The move comes at a time when Credit Suisse has been pressured to optimize its operations. The company has committed to float its stake in Credit Suisse Switzerland, which was recently established as a separate entity.
The estimated value of the float is close to CHF 5 billion ($4.95 billion) with the plan for a float being touted as one of the biggest offerings in Europe next year.