Credit Suisse made a big hire from State Street as it looks to beef up its stock trading team

Credit Suisse nabbed a 23-year veteran of the buy side as it invests more resources in its equities team.

In March, Credit Suisse poached Danielle Johnson, a managing director at Goldman Sachs, to co-run its Americas equities business. Chris Rice was named global head of execution strategy for Credit Suisse in recent weeks, according to an internal memo seen by Business Insider. Rice comes to Credit Suisse from State Street Global Advisors, where he most recently served as the $2.5 trillion asset manager's global head of trading.

Rice, who spent 23 years at State Street, brings valuable experience from his time spent on the buy side to the Swiss bank. As global head of trading, Rice was responsible for State Street's equity, currency, and fixed income trading operations. Previously, he was involved in the asset manager's equity derivatives trading, transaction cost research and the development and implementation of its electronic trading platforms.

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