Rippetoe is transferring from Credit Suisse in Europe where he was head of equity derivatives trading. He will be based in Hong Kong and will report regionally to Alex Lin, regional head of equity trading. Functionally, he will also answer to Simon Yates, global head of derivatives, and Todd Sandoz, global head of cash equities and convertible bonds.
The new directors are: Rob Hewitt, who was hired from UBS to become head of Asia ex-Japan equity derivatives flow trading; Michael Chighine, who will join from AIG Financial Products; and Jean-Guy Renard who will move across from Morgan Stanley.
Hewitt will take up his new role in mid-June. He will be based in Hong Kong, and report to Rippetoe. Before joining Credit Suisse, he was responsible for Japan Index Trading at UBS.
Renard, who will be based in Hong Kong, will be responsible for the Swiss bankÆs index derivatives trading in non-Japan Asia and report to Hewitt. Chighine will join in late June and will be covering Australian equity derivatives trading, which is headed by Steve Hall. He will be based in Sydney, Australia.
Except for Renard, who is filling an existing, but vacant position, the other three are taking on newly created roles as the bank is seeking to bolster its team to match the business growth.
ôThe appointments will strengthen our trading capability in Asia Pacific, especially in the equity derivatives space. It will be critical in our efforts to provide innovative products to our clients and to continue our development in the region,ö says Alex Lin.
As Asia becomes an increasingly important market for investment banks, Credit Suisse has been building out its teams in the region aggressively. In early April, the bank expanded its private equity team by adding six members, including Harjit Bhatia who took on the job as head of private equity in Asia. Bhatia, a former chairman and chief executive officer at Ritchie Capital Management in Asia, joined as managing partner and brought with him five members of his team from Ritchie - Hemang Raja, Rakesh Mital, Soma Ghosal Dhar, Isiah Zhang and Imelda Tham.