Ratings advisory ping pong

Credit Suisse First Boston hires from JPMorgan after losing Michelle Toh.

CSFB has lifted Tzu Ping Tan from JPMorgan to cover ratings advisory within its debt capital markets team. Tan leaves JPMorgan after four years to join one of the smallest but most profitable DCM operations in Asia. Headed by the silver-tongued Carsten Stoehr, the team currently numbers just six. At Tan's old firm, ratings advisory initially had a strategic role sitting within corporate finance, but was consolidated into DCM late last year.

He replaces Michelle Toh, who left before Christmas because she wanted to cut down on her travel commitments and spend more time with her growing family. She has since re-surfaced at Moody's in Hong Kong, taking up a newly created role as marketing manager.

Having spent two years doing ratings advisory at JPMorgan, Tan is regarded as an up-and-coming talent by his peers.

Educated at Yale, but a Singaporean by birth, he was on the verge of becoming a radio presenter before deciding to become an investment banker on leaving the army in 1999.