Equity derivatives chief quits at Warburg Dillon Read

YET another top executive has quit at Warburg Dillon Read, the investment bank formed by the merger of UBS and SBC, the two Swiss banks.

Renaud de Planta, who had been appointed head of equity derivatives at Warburg Dillon Read, is to join Pictet, a Swiss private bank, as a managing partner. Mr de Planta had been with UBS for 12 years.

Mr de Planta's resignation is the latest in a series of top defections at Warburg Dillon Read, where several key managers are understood to be disaffected with the merger process.

Separately, Credit Suisse First Boston said it had appointed Keith Martin, formerly head of UK equity trading at UBS, as co-head of UK equity trading.