Ex-Hedge Funder Hired For Distressed Debt At Credit Suisse

Oct 13 2010 | 10:39am ET

The hire of a former hedge fund executive has signaled Credit Suisse’s return to a business it abandoned two years ago.

The Swiss bank has named David Chene a director in distressed debt trading. Credit Suisse has not had a distressed debt unit since closing it in 2008 as it sought to cut risk.

Chene joined the firm in August, Financial News reports, from Morgan Stanley, where he served as a senior structured securities trader. He joined Morgan Stanley from hedge fund DA Capital.

At Morgan Stanley, Chene has been replaced by another now-former alternative investments veteran: Michael Khouri, who returned to the bank this summer from private equity firm Mount Kellett Capital Management.

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