Money Management

BlackRock is said to hire former Credit Suisse executive for debt unit

BlackRock (BLK) hired Brent Patry, the former vice chairman of acquisition and leveraged finance at Credit Suisse Group, as it continues to expand its credit business, according to people with knowledge of the matter.

Mr. Patry joined BlackRock as a managing director responsible for credit deal sourcing globally, said the people, who asked not to be identified because they weren't authorized to speak publicly. He left Credit Suisse in August 2017 after almost two decades with the bank.

A spokesman for Credit Suisse declined to comment. Mr. Patry and a representative for New York-based BlackRock didn't immediately respond to emails seeking comment.

The hire is the latest by BlackRock, the world's largest asset manager, to build up its credit expertise. Last year the group hired Timothy O'Hara, also from Credit Suisse, as co-head of global credit alongside Jim Keenan.

Mr. Patry held a variety of roles at Credit Suisse, including head of U.S. leveraged finance capital markets.