Global - Credit Suisse's asset management arm has increased its asset under management (AUM) to CHF 708.6 bn, up 5.8 % since December 31, 2006.
The Credit Suisse group as a whole boosted profits by 5%, with net income climbing to CHF 2.73 billion.
Oswald Grubel, CEO of Credit Suisse, attributed the firm’s integrated business model for the rise in profits.
He said: “We have achieved a great deal over recent years and I am convinced that under the leadership of Brady Dougan, the new CEO, Credit Suisse will continue to grow and strengthen its profitability.”
The bank recently targeted the European pensions market with a fiduciary offering and two new LDI products.
Meanwhile, in the UK, the firm has been actively recruiting in its pensions solution groups, with one source predicting several more high profile announcements to be made over the next two months.
Terry O’Malley, director and head of UK institutional distribution for asset management at Credit Suisse, recently joined from investment consultants bfinance.
An unnamed London-based employer has been hit with a £350,000 fine from The Pensions Regulator (TPR) for failing to fully comply with its pension duties.
XPS Pensions has enhanced its fiduciary management selection service in order to help trustees through initial selection and mandatory re-tendering.
One in five defined benefit (DB) schemes are in The Pension Regulator's (TPR) weakest two categories, analysis by Hymans Robertson has revealed.
State Street Global Advisors (SSGA) has been selected as the first index manager for the Asset Management Exchange's (AMX) passive funds.