The Head of Spot FX Trading at Credit Suisse Martin O’Donoghue has left the company, multiple sources with knowledge of the matter have shared with Finance Magnates. A company spokesperson has not commented on the matter.
O’Donoghue left the firm after spending about 7 years at the Swiss bank. The former top FX desk executive was based out of London but was onboarded in May 2009 when he joined Credit Suisse in Zurich.
Before joining the Swiss bank he worked at Bank of America’s spot-trading desk. He left the firm after four and a half years.
The move comes at a time when Credit Suisse has been pressured to optimize its operations. The company has committed to float its stake in Credit Suisse Switzerland, which was recently established as a separate entity.
The estimated value of the float is close to CHF 5 billion ($4.95 billion) with the plan for a float being touted as one of the biggest offerings in Europe next year.