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Credit Suisse First Boston at the end of this month will end its decade-long exile from the European commercial paper market by launching a new group run by officials formerly with Barclays Capital.
The group, headed by Andy Jones, will be named CSFB's short-term products group, and will be based in London under the supervision of Eraj Shirvani, CSFB's director and head of European credit trading, and Rab Ker, director and head of short- and medium-term finance. The new team starts work June 28.
The move comes as the European commercial paper market is in flux, with current players bailing out while some veterans are returning. Daiwa Securities, for example, axed its European CP department early this month, while several...