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CSAM says Lucerne head Jurt leaves

SWITZERLAND – The head of the Lucerne office of Credit Suisse Asset Management, Herbert Jurt, has left the company and been replaced by Hans Stirnimann.

CSAM said Jurt stepped down “to take another position” – believed to be with a rival.

Stirnimann, who has worked for local office of CSAM since 1979, will lead with his deputy, Markus Rogger, a six-strong team working in Lucerne and Zurich.

He has also acted as deputy head of the CSAM’s central Switzerland division.

“With his many years experience, particularly on the institutional side and thanks to his strong local roots, Hans Stirnimann is the right man to guarantee a seamless transition”, the Credit Suisse said.

In a statement, CSAM also thanked Jurt “for his vital contribution to the success of CSAM Lucerne”. Jurt worked for Credit Swiss for 17 years.

CSAM’s operating income in the fourth quarter rose 14% over the prior year periods.

Total assets under management as at December 31 2003 were 392.9 billion francs down from 412.8 billion francs a year earlier.

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