UK - Credit Suisse Asset Management is to revamp its management structure.
The role of global chief investment officer will be scrapped to make way for individual global heads for each investment stream – equities, fixed-income and alternative investments.
The move follows the departure of global chief investment officer Laurence Smith, who held the position for three years.
CSAM chairman and global chief executive officer Michael Kenneally said: “Our goal with these changes is to improve accountability, better focus investment strategy and move managers closer to the investment process, all of which we believe will deliver improved performance to our clients.”
The firm has already appointed Jack DiMaio as chief executive officer of alternative investments.
But until global heads are appointed for both equity and fixed-income investment, Kenneally will oversee these departments.
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