After less than a year as head of credit and equity derivatives, Mark Richardson is out at Dresdner Kleinwort, another casualty of the credit market crisis.

Richardson joined Dresdner at the beginning of the year from London-based hedge fund WMG, where he served as a partner beginning in 2004. His departure comes as Dresdner parent Allianz Group took a €575 million (US$843.4 million) write-down on credit market losses.

Joining him at the exit is Neil Walker, the former co-head of structured credit trading at Merrill Lynch who joined Dresdner just six months ago.