Credit Suisse Cuts Hedge Fund Forex Sales Force In London

Credit Suisse has bid farewell to its pointman for foreign exchange sales to hedge funds in Europe.

The exit of Thomas Farrer, head of European hedge fund forex sales, and another hedge fund forex salesman, Steve Russell, are among a number of cuts made by the Swiss bank, FX Week reports. Both men were based in London.

Farrer had worked at Credit Suisse for more than six years and Russell for three. The former had been head of European hedge fund forex sales at Bear Stearns, while the latter formerly worked at UBS' hedge fund sales desk, and at JPMorgan Chase.

Credit Suisse said last week that it would cut 100 investment banking jobs in the U.K. as part of its cost-cutting effort.