Standard Bank: Analyst crosses to Credit Suisse

Platinum analyst Justin Froneman has left Standard Bank’s equity research unit to head Credit Suisse’s mining team. “He’s been with us for almost three years,” Marc Ter Mors, the global head of equity research at Standard Bank’s SBG Securities, said of 34-year-old Froneman yesterday. “We’re looking internally and externally to replace him. We’ve only known for a few days, so we’re still looking at different options.” Froneman joined SBG in 2011 having previously worked at Macquarie First South Securities. Standard Bank ended a local stock brokerage joint venture with Credit Suisse in 2010. The two banks have since competed for African coverage with companies including UBS, JPMorgan Chase, Deutsche Bank and Investec. Froneman declined to comment. Trevor Jones, a spokesman for Credit Suisse at FTI Consulting, was not immediately able to comment. Shares advanced by 2.19 percent to close at R142.55 yesterday. – Bloomberg