A group of former equity derivatives senior executives in Europe at Credit Suisse have joined efforts to launch Pluris Capital, a new UK-registered private investment entity registered at Companies House in December by Cameron Hedger, former head of equity derivatives structuring Europe, Middle East and Africa (Emea) and global co-head of fund-linked products (FLP) at Credit Suisse, and Anis Akl, a former senior equity derivatives trader flow and corporate derivatives at the same bank in London. Akl joined the Swiss bank from Societe Generale, where he was an equity derivatives trader and, previously, a fixed income trader at Commerzbank.

On February 8, the firm registered Mounir Elarchi, former co-head of FLP at Credit Suisse in London, and Walter Rotondo, who was co-head of Emea solutions and head of European equity derivatives convertibles trading at the Swiss bank, in London. Eric van Laer, former head of client strategy for liquid alternatives in Europe within the bank's Systematic Allocation Strategies (SAS) group, joined the new company as a partner last week. The company, which has not been registered with the UK Financial Conduct Authority, was launched as a limited liability partnership.

The five former Credit Suisse executives left the Swiss bank as part of an 'expanded cost cutting exercise' implemented at the end of 2016. Hedger was previously head of fund-linked derivatives for Asia ex-Japan, and relocated to London to assume a role in global FLP as deputy global co-head of fund-linked products. Hedger shared responsibility for FLP with Mounir Elarchi, who joined from the bank's fixed-income division. Hedger was previously head of European equity derivatives and retained responsibility for equity derivatives structuring. Following Hedger's departure, Elarchi became sole head of FLP for global solutions. Elarchi left the Swiss bank in March 2016, according to the FCA register.

Rotondo parted ways with the bank as it completed its equity derivatives overhaul, a plan to reduce costs by over CHF4bn (€3.6m) by 2018, in part through a reduction in the duplication of roles by the removal of co-heads. Rotondo had been sole head of securities before the bank's previous reorganisation.

Van Laer was head of SAS client strategy for liquid alternatives in Europe since early 2014, when the London-based SAS group was formed within Credit Suisse Asset Management (CSAM), a division that reports to Mino Capossela, head of liquid alternative solutions. Before that, Van Laer was co-head of structured products sales in charge of structured products sales, alongside Andrea Negri, fellow co-head of retail and flow equity sales and head of equity derivatives sales, Emea solutions, who also departed in December 2016. Negri joined Credit Suisse from Lehman Brothers, after working as a director in equity derivatives at Bank of America.

Van Laer was promoted to co-head of structured equity derivatives sales, Emea at Credit Suisse, reporting to Walter Rotondo, then co-head of European equities and global head of FLP, and to Gerry Keneally, head of European equity sales, at the time. Before being promoted Van Laer was head of fund derivative sales and FLP at the Swiss bank. Van Laer has also held a number of senior positions in structuring at the Swiss Bank. He joined Credit Suisse from Commerzbank, where he head of FLP. Van Laer joined Commerz from Santander, where he was a multi-asset derivative marketer.

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