Another exit from Credit Suisse's securitization business
As Mizuho becomes the latest potential purchaser of Credit Suisse's securitization business, insiders say there's been another exit.
David Israel, a vice president on the New York loan trading team is understood to have quit yesterday, apparently for Morgan Stanley.
Israel's is a comparatively junior departure compared to some of the more senior staff who've left in the securitized products group in the past six months. However, his exit underscores the problem faced by Credit Suisse as it prepares a sale while trying to retain staff in the face of poaching by rivals.
While people have been leaving the securitized products group, Credit Suisse has also been quietly hiring. Keith Willard joined from Nomura as a managing director in mortgage backed securities sales in September.
Israel's whole career had been at Credit Suisse: he joined in 2014 after graduating from The Johns Hopkins University.
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