Credit Suisse has hired a new head of exchange-traded funds from Lyxor Asset Management to oversee the aggressive expansion of its ETF business in Europe. The Swiss bank launched almost 50 new funds in the region last year.

Credit Suisse Asset Management has hired Dan Draper as managing director and head of ETFs. A source close to the move told Financial News that his hire is part of a plan to push the Swiss bank's ETF platform further across Europe.