Credit Suisse AM names new chief executive

GLOBAL – The asset management arm of Swiss bank Credit Suisse has appointed Michael Kenneally as its global chief executive.

Before joining Credit Suisse Asset Management, Kenneally was president of investment management and chief investment officer at Bank of America.

Kenneally will be based in New York, and will report to Jeffrey Peek, vice chairman of Credit Suisse First Boston and head of the financial services division. Kenneally will also serve on CSFB’s executive board. His appointment commences April 1. The position arose as a result of CSAM’s global reorganisation announced in December.

Commented Kenneally: “We have enormous opportunities for expansion, both by enhancing our products and better leveraging the unique distribution strengths of CSFB and the CS Group. I am confident that we have the right people and platform to continue improving CSAM’s position in the market place.”

CSAM is the institutional and mutual fund asset management arm of Credit Suisse First Boston, and has nearly 300 billion dollars in assets under management worldwide.

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