GLOBAL – Credit Suisse Asset Management has made a series of organisational changes, including the formation of a global executive committee and a reduction in the number of operating regions in a bid to bring the company in line with the Credit Suisse group.
Credit Suisse AM is the fourth largest manager of European pension fund assets with 84.8 billion euros under management.
As of yesterday the five operational regions of Europe, Switzerland, the Americas, Japan and Australia have been reduced to Europe, the Americas and Asia-Pacific.
The new European region combines the firm’s operations in Europe and Switzerland and is headed by Henry Wegmann, former chief executive officer of CSAM Switzerland.
The Americas will be headed by Joseph Gallagher, formerly CSAM’s chief financial officer and chief executive of Europe (ex-Switzerland).
The Asia Pacific region, comprising Australia, Japan and non-Japan Asia will be headed by Andrew Kinnon. Toshio Fukuda will continue to manage the Japan business.
Robert Parker, global head of institutional marketing, has also been appointed to the new position of vice chairman responsible for client relations.
With the exception of Toshio Fukuda, the new regional heads, and Robert Parker will sit alongside: Larry Smith, CSAM global chief investment officer; Greg Sawers, CSAM global head of research; and Jeffrey Peek, vice chairman of CSFB and head of the financial services division, on the newly established global executive committee, which will be responsible for management strategy.
Says Peek: “These changes will enable CSAM to develop a strong global platform and leverage its cross-border strengths and relationships.”