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SWITZERLAND - Pictet & Cie has appointed Remy Best as a partner in charge of Pictet Funds.

SWITZERLAND - AHV, the CHF20bn Swiss social security fund, has hired four managers to run a new US small-caps portfolio.

GERMANY - Deutsche Bank, Germany's largest, is bracing itself for further job losses as the firm outlined its intentions to cut costs by EUR2bn over the next 18 months.

SWITZERLAND - Swiss firm Julius Baer Group is to streamline its investment management operations starting in Q3.  The firm's two business areas ‘institutional asset management' and ‘investment funds' will be merged into a new business line from July 2002....

SWITZERLAND/GLOBAL - Credit Suisse Group (CSG) recouped some losses during the first quarter 2002, but still fell nearly US$1bn short of net profits compared to the same period last year.

SWITZERLAND/GLOBAL - Swiss financial group UBS posted a 14% decrease in first quarter net profits for 2002 after figures were bruised by losses in its private equity and investment banking businesses.

SWITZERLAND - Swiss Life Hedge Fund Partners, a unit of insurers Swiss Life/Rentenanstalt, is to be absorbed into alternative asset managers, RMF Investment Group (RMF).

GERMANY/GLOBAL - Deutsche Bank has hinted it could be looking to sell its global custody and passive asset management businesses.

GERMANY - Henderson Private Capital, the private equity arm of Henderson Global Investors, plans to launch private equity funds aimed at the German institutional market.

SWITZERLAND - After a tough 2001 for Swiss pension funds with average losses of almost 7%, the first quarter of 2002 is looking a little better. The median manager in the InterSec Balanced Universe returned 1.1% for the first quarter of 2002.