EUROPE - Markus Hübscher, head of index products at Credit Suisse Asset Management (CSAM), has left the firm to become country head of Switzerland for Barclays Global Investors (BGI).
BGI today said Zurich-based Hübscher will lead BGI's penetration of the Swiss institutional investment market. "This is a key strategic hire and will give additional focus to these key client segments," said Nigel Williams, chief executive for BGI Europe and Asia.
Hübscher will be replaced by the Swiss Didier Böckli who has taken over today, a spokeswoman said.
Furthermore, it emerged today that Gary Potter and Rob Burdett, CSAM's joint heads of the company's £1.25bn UK multi-manager franchise, have resigned from their positions.
The UK newswire Citywire reported this morning that, according to its sources, the two will take six months' gardening leave, adding that two of the former six-strong team, Scott Spencer and Kelly Prior, have taken temporary charge of the operation.
Ed Robertiello, global head of manager selection for funds and alternative solutions, will oversee and direct Spence and Prior, according to the CSAM spokeswoman.
She confirmed that both will be on gardening leave from today, but said she could not comment their plans: "They came together five and a half years ago and now they are leaving together. They told us they were resigning, but I cannot say more than that."
However, she insisted that the group is still very much committed to its UK business.
Earlier this month, CSAM's head of UK fixed income, Ian Fishwick, resigned just weeks before the arrival of new boss, Paul Griffiths from AXA Investment Managers.
Fishwick has held the role for six years and was responsible for more than £6bn (€9bn) in institutional money on behalf of more than 70 accounts.