Credit Suisse has appointed John Dabbs to a newly created head of prime financing sales role for the Americas, in its latest move to consolidate the prime services business.
In addition to his current role as global head of prime derivatives services for Credit Suisse, Dabbs will be responsible for capital introduction, prime consulting and client services.
“He [Dabbs] will be responsible for developing synergies throughout our product lines as we integrate our offerings across equities to better serve our client base,” Paul Galietto, global head of prime services for Credit Suisse said in an internal memo seen by Global Custodian.
Dabbs will report to both Galietto and Eric Miller, Credit Suisse’ head of equities sales.
The appointment of Dabbs follows the recent cuts the Swiss bank has made across its US prime services business over the past month.
These high-profile departures included Jeremy Siegel, global head of prime consulting, Bon Leonard, global head of capital services, Mike Wingertzahn, head of institutional prime sales and head of Americas delta one sales, Gardy Berthoumiex, global head of Credit Suisse’s central collateral desk, and Fred Nadd-Aubert, head of securities lending.
Prior to his current role, Dabbs was previously European head of listed derivatives and US head of prime derivative services.
“John will leverage his vast expertise and global network to ensure a seamless client experience and deliver best-in-class products and services that can generate business not only in prime but throughout equities,” Galietto added in the memo.