SWITZERLAND - Credit Suisse has named Peter Schmuki as its new head of asset management in Switzerland, taking over from Mario Seris.

Schmuki is returning to the bank after leaving three years ago to join hedge fund group Bourne Park Capital.

"He will head the management committee for Asset Management in Switzerland and will represent Asset Management on the management board for Switzerland of Credit Suisse," the bank said.

Seris will focus on his role as head of real estate (core) for Asset Management.  

"Peter's wealth of financial services experience, his relationships across the bank, and his relationships within the Swiss business and financial community will be invaluable in this important role," said David Blumer, chief executive of Credit Suisse's asset management business.

"Peter will lead our effort to continue to grow our market share in our important home market."   

Schmuki retired from Credit Suisse in 2003 after a 20-year career, having held a number of senior positions in fixed income capital markets.

He said: "This is a very exciting time in the development of Credit Suisse's Asset Management business and I look forward to working with the teams across the bank to ensure that we provide our clients with the investment solutions that best meet their needs."