A high-flying equity derivatives trader who held senior positions at Bank of America and Credit Suisse has appeared before court with a co-defendant on multiple fraud charges relating to an alleged exam cheating scam.

Jerome Drean, recently head of European equity derivatives trading at Credit Suisse, appeared at Yorkshire Crown Court on Monday.

Neither defendant entered a plea at the Monday hearing. The case was adjourned until a plea hearing on November 12.

The charges include conspiring to defraud the University of York, where Mr Drean’s co-defendant, Elnar Askerov, was a student until May this year.

The University of York declined to comment. Mr Drean could not be reached for comment.

Credit Suisse said that Mr Drean was no longer an employee of the bank and declined to comment.

According to Financial Services Authority records, Mr Drean joined Credit Suisse on April 17, 2007, and left five weeks later on May 21.

Banking sources said that Mr Drean, who previously worked at Bank of America, resigned of his own accord once the cheating allegations emerged.

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