Credit Suisse Prime Brokerage Adds UBS Vet For Smaller Funds

May 21 2010 | 10:07am ET

The Asian prime brokerage arms race continues apace, as Credit Suisse announced its latest hire in the space.

Vasundhara Pradeep has been tapped to lead the Swiss bank’s technology for start-up and emerging Asia-Pacific hedge funds, a new postion. Pradeep, who joins from UBS, will be based in Hong Kong.

“Working closely with the bank’s prime services coverage team, Ms. Pradeep will lead Credit Suisse’s efforts to provide its hedge fund clients with consultancy services in business-critical areas such as infrastructure, technology and talent,” Credit Suisse said.

Pradeep worked in prime brokerage sales and business consulting at UBS.

Pradeep’s hire follows news that Barclays Capital has boosted the size of its Asia prime brokerage by 65% and that Citigroup has added eight professionals to its offices in Hong Kong, Singapore and Sydney, Australia. Bank of America Merrill Lynch has also been busy, hiring Morgan Stanley’s Futoshi Ago for its Japanese prime brokerage last month.

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