Finance

A prime brokerage exec at Bank of America responsible for helping hedge funds raise money is heading back to Credit Suisse. Here’s what we know.

  • Garry Collins, Bank of America’s head of capital introduction, has left the bank, Insider has learned.
  • Collins connected wealthy and institutional clients with investment managers like hedge funds looking to raise capital.
  • A source familiar with the situation said he will return to Credit Suisse, working on hedge fund origination.
  • Visit the Business section of Insider for more stories.

Garry Collins is out at Bank of America after a little more than two years at the firm, and is returning to his former professional home: Credit Suisse.

Collins, the bank’s head of capital introduction, left the firm Monday afternoon, several sources tell Insider. In his role on the prime brokerage team, he connected wealthy and institutional clients with investment managers like hedge funds looking to raise capital.

Prior to joining Bank of America, Collins worked for Credit Suisse for more than a decade, according to his LinkedIn page. He will return to the Swiss firm where he will work on hedge fund origination under Alex Englander, head of equity sales in the Americas, according to a source familiar with the situation.

Collins did not immediately return requests for comment from Insider.

Bank of America’s prime brokerage unit had several top people leave in 2018 following the dismissal of Omeed Malik, the former head of the team, for what the bank characterized as harassment. Malik was a rising star at the time, and departures in 2018 included directors Michael Dolan and Kristin Maule and managing director Chris Throop.

Malik sued Bank of America for defamation and discrimination, and received an undisclosed, multi-million-dollar settlement from the bank.

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