Credit Suisse created two new positions in its money management division, giving a regional focus to the business, said an internal memo obtained by Pensions & Investments.
Bill Johnson, deputy global head of asset management, was also appointed head of asset management Americas, said the memo by Eric Varvel, global head of asset management at Credit Suisse. Mr. Johnson oversees the commodities group, credit investments groups, the Securitized Products fund and private funds group.
Michel Degen was appointed head of asset management Switzerland and Europe, Middle East and Africa, covering all existing core businesses, alternative funds solutions, and Credit Suisse Energy Infrastructure Partners. Mr. Degen takes on the responsibility for money management in Switzerland from Michael Strobaek, who continues in his role as global chief investment officer of Credit Suisse and head of investment solutions and products for the international wealth management division. Mr. Degen retains his role as head of core and specialized fixed income.
“My ambition is to grow our business globally in a disciplined manner and become a leading global asset manager,” Mr. Varvel said in the memo. “We will focus on further leveraging our synergies with other businesses within the bank, and providing institutional-quality products and solutions to some of the largest and most sophisticated investors. In addition, we will invest in markets and products where we have a competitive advantage. I believe that this new organizational structure will help us achieve our goals more rapidly.”