Dan Mathisson was yesterday promoted to head Credit Suisse’s U.S. cash execution and trading–a new position for the firm and the algorithmic trading executive. The new job gives him oversight over the high-touch trading desk, according to a memo obtained by Traders Magazine. The company declined to comment
Mathisson is a pioneer in the algo trading space and had a senior role in launching Credit Suisse’s electronic trading platform, AES. The promotion highlights the success of Credit Suisse’s electronic trading business, which is said to account for roughly 90 percent of its equity trading in the U.S.
Besides overseeing the firm’s sales traders and sector traders on the high-touch desk, Mathisson remains in his previous role of overseeing AES and program trading, the memo said. He will continue to report to Steve Garnett and Mike Paliotta, both managing directors and co-heads of equities in the Americas.
The high-touch desk was previously run by Matt DeSalvo, a longtime trading executive, who joined Credit Suisse in 2006 from Morgan Stanley. DeSalvo has left the firm.
