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.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point