Gottex Brokers, the largest interdealer broker in the Swiss interest rate swap market, is to open a new office in London focused on the high-yield credit market, Financial News has learned.

The firm will look to hire up to three brokers for the London branch initially, including a head of desk for illiquid credit sales. Raphaël Moreno, chief executive of Gottex Brokers told Financial News the firm was targeting both experienced brokers as well as sellside credit dealers with direct experience of client sales.