Mark McDonald was named global head of private equity secondaries at Deutsche Asset Management, said spokeswoman Oksana Poltavets.
The position is new. Mr. McDonald will help build Deutsche Asset Management's private equity business by identifying alpha-generating, customized solutions to complement client portfolios. He will also seek out underserved and difficult-to-access secondary market opportunities and unique private market situations.
Mr. McDonald will be based in London and report to Pierre Cherki, head of alternatives and co-head, investment group.
Mr. McDonald was global head of secondary advisory at Credit Suisse and a senior member of the screening committee for the firm's private fund group. He was replaced by Jonathan Abecassis, a director who will oversee the secondary advisory business in Europe, the Middle East, Africa and Asia, while Chris Areson, a director, will lead the secondaries advisory business in the Americas, said Credit Suisse spokesman Simone Meier.
Deutsche Asset Management had €711 billion ($839 billion) in assets under management as of Sept. 30.