Credit Suisse loses its 'Rock'

Rocco Paduano has quit his job as chief operating officer of Credit Suisse prime broking.

He joined the firm in September 2009 and says that he wants to find a new challenge in Asia, either remaining on the sell-side or returning to the buy-side as CEO or COO of a hedge fund.

Before joining Credit Suisse he was the head of risk management at Hong Kong-based hedge fund Hindsight.

He co-founded Hindsight Investment Management in 2005 with Jenkin Leung, Yin Man Tang and Man Wing Chung. That fund shut down in 2009 and the partners scattered to the wind. Jenkin Leung reappeared this year as a managing director at Morgan Stanley.

Prior to Hindsight, Paduano, 41, worked as a prime broker for both Morgan Stanley and Goldman Sachs. Before embarking on a peaceful career as hedgie and prime broker, he worked for US firm Raytheon.

Replacing him as Asian COO at Credit Suisse prime broking in an internal transfer is Chang Kymm, who used to be chief operating officer for client trading and execution, which is Olivier Thiriet’s group. He will report to head of Asian prime broking Matt Pecot.