Credit Suisse economist Zoltan Pozsar leaves the bank – WSJ

Illustration shows UBS Group and Credit Suisse logos

(Reuters) – Zoltan Pozsar, a widely followed Credit Suisse markets guru, has left the bank, part of an exodus of staff that started in the months before the lender’s shotgun takeover by rival UBS, the Wall Street Journal reported on Monday.

Pozsar left Credit Suisse in recent months, according to the report, which cited a person familiar with the matter.

He worked at the Federal Reserve Bank of New York and the U.S. Treasury before joining Credit Suisse in 2015, where he was Credit Suisse’s global head of short-term interest-rate strategy, the Wall Street Journal said.

Credit Suisse declined to comment.

UBS in March agreed to buy Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) in stock and agreed to assume up to 5 billion francs ($5.4 billion) in losses, in a shotgun merger engineered by Swiss authorities.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shounak Dasgupta)