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Credit Suisse, ANZ execs depart to join Tanarra Capital

Two executives from Credit Suisse Group AG and have departed from their respective companies to joinAustralia's Tanarra Capital, Reuters reported Oct. 5, citing John Wylie, thefounder of Tanarra Capital.

Michael Tierney, head of leveraged finance for Asia Pacificat Credit Suisse, left the Swiss banking group Oct. 5 and will not be replaced,sources said. Credit Suisse declined to comment, the news outlet reported.

In addition, Peter Szekely resigned as head of specialtyfunds for Asia at ANZ in mid-September. The Australia bank confirmed Szekely'sdeparture from the company.

Melbourne-based Tanarra Capital hired Tierney and Szekely toset up a fund focusing on Asian loans and they are expected to start at thecompany in December. The firm aims to raise up to A$250 million for the creditfund, which will invest in senior secured loans with BBB and BB ratings.

As of Oct. 5, US$1 wasequivalent to A$1.32.