credit-suisse-hires-strategist-and-ecm-banker

Credit Suisse hires strategist and ECM banker

Sakthi Siva joins from UBS as equity strategist for Asia-Pacific and global emerging markets, while ECM banker Rudolf Yu will move across from BNP Paribas.
Credit Suisse has hired Sakthi Siva from UBS as a managing director and equity strategist for Asia-Pacific and global emerging markets, according to a source. Credit Suisse confirmed the appointment and said Siva will work closely with the bankÆs strategy research teams in individual countries and globally with the aim of developing original and value-added research and strategies for its brokerage clients.

Siva, who has been the chief Asian strategist at UBS since January 2004, will fill a position that has been vacant since Stewart Paterson left Credit Suisse about a year ago to set up a hedge fund. She will continue to be based in Singapore and will report to Ali Naqvi, who is the bankÆs head of equity research for non-Japan Asia. However, she wonÆt be reporting at her new job until June.

Sakthi has more than 20 years of experience in macro economics and equity research and strategy and is highly regarded by her peers. Aside from her most recent position at UBS in Singapore, Siva has also held senior research positions at the same bank in Australia. She started her career at the Reserve Bank of Australia as a research economist and has worked for Macquarie Bank and Ord Minnett in Australia in different research roles.

Meanwhile, equity capital markets banker Rudolf Yu is also about to join Credit Suisse after recently resigning from his job as senior vice president for regional ECM at BNP Paribas, sources familiar with the hire says. Once his three month gardening leave is over, he will take up a position as vice president within the ECM department and will continue to focus on North Asia in particular.

Yu is the second ECM banker to leave BNP in three weeks after Darius YuenÆs departure in mid-March. Yuen, who was head of regional equity capital markets at BNP, left to become a senior managing director and head of ECM at Bear Stearns with the explicit mission to help build out the US investment bankÆs ECM franchise in Asia. It isnÆt clear what will happen to those plans, however, given that Bear Stearns is about to be taken over by JPMorgan and Citic Securities have called off an investment into Bear Stearns which was to include the setting up of a capital markets joint venture that was intended to form the base for Bear StearnsÆs push into the regionÆs primary equity markets.

Credit Suisse has been strengthening its ECM franchise with several new hires over the past 12 months and now have at least a dozen people working with the origination and syndicate teams. The firm is seventh in Dealogic's overall ECM league tables for Asia ex-Japan so far this year and ended last year just outside the top three.

Yu had been with BNP for about eight and a half years, the first four with the corporate finance team and the rest within ECM. Among his last achievements at the bank was to ensure Solargiga Energy was able to list in Hong Kong after its first attempt at an initial public offering was postponed amid difficult market conditions in January. The deal was successfully re-launched in a down-sized $127 million fixed-price format last month and started trading on Monday this week.

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