Barclays Hires Ex-Credit Suisse Banker Stephen Dainton as New Equities Head

Barclays PLC (BARC:London) has grabbed another top banker from Credit Suisse in the latest in a series of high-profile defections from the Swiss giant to the British lender.

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The London-based bank announced today that Stephen Dainton will join the lender as global head of Equities where he will oversee the trading business including product management, distribution, Liquidity management and market structure.

He will be based in the City and report to Tim Throsby, president of Barclays International and chief executive of the corporate and investment bank, effective next month.

Prior to this post, Stephen spent 14 years at Credit Suisse, most recently as co-head of global markets for the Europe, Middle East and Africa (EMEA) region. He stepped down in January, just over 10 months into the job after his unit racked up $1 billion in trading losses that forced the Zürich-based lender to beef up the business with new hires.

Dainton has over 25 years of experience and his career encompasses senior roles including overseeing equities, running global credit products and helping head global securities and the fixed-income department. He also led Credit Suisse's global markets equities business in Britain since 2005.