Robert W. Baird & Co Inc., an independent investment bank and financial services company, will add James Gray and Daniel Bates, two Credit Suisse Group AG credit bankers, to its income capital markets group, Bloomberg News reported.

Gray is an executive director responsible for structured finance sales, and Bates is a trader in collateralized loan obligations. After joining Baird, both Gray and Bates will remain based in London. Bloomberg News reported that Credit Suisse has been losing staff since announcing a round of job cuts in October as part of its latest overhaul.