SYDNEY, Dec 8 (Reuters) - The Australian arm of Credit Suisse Group AG CSGN.VX hired the long-standing head of equity capital markets at rival investment bank UBS Group AG UBSG.VX , Simon Cox, a spokeswoman said.
Cox will be the bank's co-head of equity capital markets for Australia.
Cox has been co-head of ECM at UBS since 2008. Credit Suisse revealed its new hire, its second of a senior UBS banker in a week, in an internal memo to staff on Tuesday morning.
A week earlier, the Swiss investment bank hired a UBS managing director, Michael Stock, as its head of investment banking and capital markets.
The new hires highlight the confidence of investment banks in secondary capital raisings, which have soared in Australia in 2015, as banks lift their cash reserves to meet new tough liquidity rules, and resources firms seek to protect their cashflow from plummeting commodity prices.
That has outstripped initial public offerings, which have slumped after a record 2014, because of a declining sharemarket and several high-profile listings which have underperformed.
Last month, UBS helped oil producer Santos Ltd STO.AX raise A$3.5 billion ($2.5 billion) in an entitlement offer to pay down debt and create a cash buffer against low oil price.
Cox's appointment is "part of Credit Suisse's recently announced strategy to invest in its investment banking and capital markets team in Australia", a Credit Suisse spokeswoman said.
($1 = 1.3824 Australian dollars)