Credit Suisse Group AG has hired Trevor Randolph from BNP Paribas Securities as a senior sales executive for its fund-linked products unit, a source said.
Randolph will be a director and report to Jeff Jaenicke and Walter Rotondo, the global heads of fund-linked products at the Zurich company, said a person familiar with the matter, who declined to be identified because the hiring has not been announced.
Fund-linked products pay returns linked to hedge funds and mutual funds, and may offer protection from an asset's losses or multiply its gains. The "capital-intensive" nature of the business scares away some banks, said Keith Styrcula, the chairman of the Structured Products Association.
James Sweeney, a Credit Suisse managing director who ran its fund-linked products group, left earlier this year.