Bank of America has bagged Charlie Cho, co-head of flow trading at Credit Suisse First Boston in London, for a managing director slot in credit derivatives. Market officials touted the appointment as a stellar hire for BofA and said the U.S. house had been searching to fill the post for some time.
Liz Wood, spokeswoman for BofA in London, confirmed the hire, declining further comment on his role. Cho will report to Mike McLaughlin, EMEA and Asia head of global structured products and head of the global structured securities group, who also declined comment. Cho, who is on gardening leave and could not be reached, starts next month, according to an industry official.
At CSFB, Cho, who departed in early June, managed the flow desk's cash trading and worked alongside co-head Antoine Cornut who handled credit-default swap trades. He reported to Eraj Shirvani, managing director and head of credit trading and sales, who referred calls to the press office. Rebecca O'Neill, spokeswoman, confirmed Cho's departure, declining further comment.
