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Ex-Credit Suisse Singapore traders already disappeared from new jobs

Credit Suisse has been ejecting Singaporean staff after its merger with UBS, including in the wealth management division, where people were (mistakenly it now seems) led to believe they were safe. But not everyone at the disintegrated Swiss bank waited until things fell apart: some jumped preemptively, and have since been let go from their new jobs instead. 

Two Singapore-based ex-Credit Suisse FX traders in particular have proven only transient in their new positions. 

Ruchir Sharma, Credit Suisse's ex-head of APAC FX trading, left Credit Suisse after nearly 13 years and joined Deutsche Bank to some fanfare in September 2022. Deutsche Bank isn't commenting, but sources say that Sharma left again around nine months later in June. He's not thought to be currently employed. Sharma was working alongside Darren Boulos in Sydney as Co-Head of GFX for APAC.

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Similarly, Rohan Naik, another ex-Credit Suisse FX trader who found a new job after five years at the Swiss bank, has failed to endure in his new role. Naik left Credit Suisse in April 2022 and joined ANZ in Singapore as a local markets rates trader. The Singapore Monetary Authority Register shows that he left again on September 25th.

It's not clear why Naik or Sharma left their roles, and both men may yet swiftly turn up in new ones. However, the disparagers of Credit Suisse and all who worked there suggest, probably unfairly, that the failure of ex-Credit Suisse people to thrive in new jobs is indicative of the malaise that contributed to the bank's collapse and that ex-CS people are not very employable. If this is true, Credit Suisse people now at other banks might be expected to suffer similar fates.

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AUTHORSarah Butcher Global Editor

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