Credit Suisse hires Morgan Stanley's Steven King for algorithmic sales

[SINGAPORE] Credit Suisse Group AG said it hired Steven King from Morgan Stanley to drive its sales of algorithmic trading services in the Asia-Pacific region.

Mr King joined Credit Suisse last week as the Hong Kong-based head of advanced execution services sales, Asia Pacific. He led Morgan Stanley's program trading desk in Asia and had worked at the US bank for 18 years, Credit Suisse said in an e-mailed statement on Tuesday.

The Zurich-based bank also hired Divyesh Patel as a Hong Kong-based senior coverage trader in electronic trading coverage for Asia, excluding Japan. Mr Patel was formerly head of Asia electronic trading coverage at Investment Technology Group Inc, according to the statement. Both roles are newly created positions.

BLOOMBERG