Matt Pecot has joined Credit Suisse to become its head of prime services, Asia-Pacific. In that capacity, all aspects of Credit Suisse's prime broking business will report to him and he will co-ordinate sales trading and futures.
This is a new position created for Pecot, and the heads of the various businesses will functionally report though him.
He will report in turn to Osama Abbasi, the head of Asia-Pacific equities, and Philip Vasan, the global head of prime services, based in New York.
Pecot was formerly the head of prime services for UBS in Asia, followed by a spell heading that department in the Americas.
He has worked in Hong Kong Thailand, Indonesia and the Philippines. He is a military man, having been a former officer in the US Corps of engineers. and was a special forces commander in Japan. Credit Suisse has seen an increase in client balances following the Lehman bankruptcy, due to the market perception of prime broking counterparty risk and the trend toward multi prime brokers.