GLOBAL – Credit Suisse has named Jack DiMaio as chief executive of alternative investments at its Credit Suisse Asset Management division.

The bank said in a statement that DiMaio is currently head of Credit Suisse First Boston’s global credit products and head of North American fixed income.

He will report to Michael Kenneally, who took up his post as chairman and chief executive of CSAM on April 1.

“In his new role at CSAM, Mr. DiMaio will oversee the manufacturing, sales and marketing of CSAM's full range of global alternative investment products - including real estate, structured finance, fund of funds - for institutional investors, private investors and mutual funds,” the company said.

He would also be responsible for creating traditional hedge funds, including a new credit fund later this year.

CSAM manages around 8.7 billion dollars in alternative investments and 11.3 billion dollars in real estate. In total it has around 297 billion dollars of global assets under management.