Stephen Tsuei left as managing director for American International Group's private equity fund business, said Joe Norton, spokesman. Mr. Tsuei was a principal on AIG's Asia Opportunity fund, an expansion capital private equity fund that invests in Asia outside Japan, Mr. Norton said. According to a letter to limited partners that was obtained by Pensions & Investments, Mr. Tsuei was terminated for violations of "AIG's code of conduct including non-disclosure of personal securities transactions, outside business activities and potential conflicts of interests" with AIG Global Investment Group. Mr. Tsuei was replaced by two other executives - John Lin, managing director, is the new head of the AIG Global Investment Group's Shanghai office, and Kennon Koay, who has been head of the Taiwan direct investment team, is the new interim head of AIG-GIG Taiwan.
Annelise Eschmann and Amy Brown were named directors on Credit Suisse Asset Management's domestic fixed-income team, said spokeswoman Suzanne Fleming. Both will serve as credit analysts on both high-yield and investment-grade fixed income and will report to managing director Michael Gray, global head of credit research, said Ms. Fleming. The two were senior high-yield analysts at INVESCO. Doug Kidd, INVESCO spokesman, could not provide details on their replacements. CSAM also added credit analysts Brian Reed and Anuj Gulati to its domestic fixed-income team. Mr. Reed, who was a high-yield analyst with OppenheimerFunds, was named a vice president and will work on high-yield and investment-grade fixed-income research. Mr. Gulati, who was an investment grade and crossover credit analyst with TIAA-CREF, was also named a vice president. Jessica Welch, spokeswoman for OppenheimerFunds, and Stephanie Cohen Glass, TIAA-CREF spokeswoman, could not immediately offer details on the replacements.
Patrick Merville joined Man Investments as deputy regional manager and head of institutional sales for the Middle East, said Charlotte van der Berg, spokeswoman. "This is a major step toward strengthening Man Investments' institutional business in the Middle East," Ms. van der Berg said. "He has the perfect background for the business." Mr. Merville was a director at Merrill Lynch in London, mainly focusing on hedge funds and alternative investments. A Merrill Lynch spokesman declined to comment on a replacement.