Credit Suisse has hired a senior managing director from Swiss rival UBS to its new-look leveraged finance team in Europe, which, according to one banker, remains on course for its “best year ever”.

Alison Howe, a senior MD with UBS's leveraged finance team, will take up a similar role with Credit Suisse in the coming weeks, according to people familiar with the matter. She will focus exclusively on corporates, one of the people said.