Credit Suisse Asset Management has appointed Laurence Smith as global CIO and managing director. He will be based in New York, and be responsible for overseeing the investment management side of the business. He will report to Philip Colebatch, global CEO. Previously he was global head of asset allocation and balanced ac-counts worldwide with JP Morgan Investment Management (JPMIM). JPMIM has announced Chris Durbin as chief investment strategist for its institutional clients to replace Smith. Durbin was co-head of global investments and head of international fixed income in London.