Reshuffling at the top of European equity banking amid hectic times sees one of the most experienced Credit Suisse traders taking time out.

After 12 years at Credit Suisse, Simon Yates is stepping down as co-head of European equities in London, taking a sabbatical and relocating to New York. Colleague Stephen Dainton becomes sole head of European equities. Mr Yates came to London in 2006 as part of a series of moves by CS chief executive Brady Dougan to beef up the equities trading side of the bank.