Credit Suisse builds up commodity indexing business with three hires

Credit Suisse has made three new hires in its commodities business, including Dan Raab, who formerly looked after the global development of American International Group's (AIG) commodity index. The bank has tapped Merrill Lynch for the remaining hires, which are in its Fixed Income Group, as it focuses on building its commodity indexing business.

Raab will take the role of director and head of commodity index strategies. At AIG financial products, Raab was managing director in the commodity index group, which included the benchmark Dow Jones AIG Commodity Index, sold to UBS in January 2009. He reports to Mark Harvey, managing director and head of global commodity structuring,

Luis Molina has been named head of vanilla index trading, joining from Bank of America Merrill Lynch where he was a managing director and global head of commodity