Credit Suisse continues rebuild of US prime division with new senior derivatives expert

Credit Suisse has hired Terry Burke from CME Group as it continues to rebuild its US prime services division.

Credit Suisse has hired a new US head of prime derivatives services, as it looks to continue rebuilding the division following a string of departures earlier this year.

Terry Burke joins Credit Suisse from CME Group where he was a senior figure in the exchange’s client development and sales team.

Burke also served as head of Americas futures and options distribution at Barclays for over five years, global head of futures and options at Nomura for more than two years, and European head of futures and options at Lehman Brothers for over four years.

The hire of Burke follows the recent effort by Credit Suisse to rebuild the prime brokerage division under its new leader, Paul Galietto, who saw his current role as head of Americas equities expanded to include global prime services.

A number of senior departures then followed, including Jeremy Siegel, global head of prime consulting, Bon Leonard, global head of capital services, and Mike Wingertzahn, head of institutional prime sales and head of Americas delta one sales.

A number of other directors and vice presidents within the equity finance and prime services business were also let go.

In April, Credit Suisse appointed John Dabbs to a newly created head of prime financing sales role for the Americas, in a move to consolidate prime services businesses.

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.