Credit Suisse First Boston has hired Ted Wong to run its European equities salestrading team, writes Alexander Crossman. Wong joins CSFB from Julian Robertson's Tiger Management Corp, which is in the final stages of unwinding. He had run the macro hedge fund's equity trading desk for three years.

Salestrading, which involves direct contact with an investment fund's dealing teams rather than with portfolio managers, is becoming an increasingly important part of equities distribution. As investment funds come under greater pressure, more are benchmarking the total impact cost of each individual purchasing decision.