Michael Wade will be leaving Credit Suisse. Wade was hired by Credit Suisse from Barclays Capital about a year ago as a managing director and co-head of asset finance in the global markets solutions group along with Tricia Hazelwood.
However, earlier this year Credit Suisse hired Jay Kim, formerly co-head of Barclays Capital's U.S. asset securitization team, to head up the bank's asset finance team starting this May. Wade was Kim's former boss at Barclays.
With Kim's hiring it became unclear what Wade's and Hazelwood's role at Credit Suisse would be.
Hazelwood has since been moved to another division at the bank. In the interim, before Kim formally joins Credit Suisse, Albert Sohn, head of securitized products, will function as head of the firm's asset finance group.
More Hires at Barclays
Meanwhile, Barclays has been busy making appointments to its securitized products origination group after Kim and his team departed the bank earlier this year.
Barclays hired Mahesh Rajagopalan, who is a director, and Kashif Gilani, who is vice president, as structurers from Credit Suisse. The new hires will join the firm in May and June, respectively.
Barclays has also hired Eric Chang as vice president from Bank of America to focus on auto origination. Chang, who is expected to start in May, will report to Martin Attea.
Barclays hired Attea in April right after Kim left. Attea, who was previously at Morgan Stanley, is the bank's new senior originator of consumer securitization transactions. He was formerly part of Lehman Brothers/Barclays until 2009.
Meanwhile, last week, Barclays appointed Diane Rinnovatore as co-head of securitized products origination together with Cory Wishengrad. Rinnovatore has been working in Barclays' debt capital markets covering banks for the past three years and before that was co-head of securitized products banking at Lehman.