Credit Suisse Asset Management (CSAM) is aiming to expand its presence in the UK institutional marke...
Credit Suisse Asset Management (CSAM) is aiming to expand its presence in the UK institutional market with a focus on equity and fixed interest portfolios.
The group has £2.4bn in UK institutional mandates and wants to increase its business in regional equity markets, fixed income funds and traditional balanced managed funds. It is also planning to build on its reputation as a manager of ethically-managed portfolios.
Its sales and marketing teams are to be increased as part of this. At the moment CSAM has three institutional marketing staff as well as a marketing services department.
The move follows the recruitment of Stephen Goldman in April as head of equities, Europe excluding Switzerland, to spearhead CSAM's expansion into the institutional marketplace. Goldman joined from JP Morgan Investment Management, where he helped build its institutional business as managing director and head of UK equity and European client portfolio management.
Goldman said: "The UK pension fund market is one of the largest in the world and represents an enormous pool of assets, which is very attractive. The institutional market is a difficult one to break into. It took five years at JP Morgan Investment Management, but I think it will take less time at Credit Suisse as we believe the pension fund industry has become more sophisticated than it was 10 years ago.
"A decade ago, a new entrant would describe their investment process and if the consultant and trustees liked it they would look at the performance record over a three to five year period.
"Now, pension fund trustees are becoming more focused on the quality of the investment process and the investment individuals rather than the historic record, which potentially offers an opportunity for new entrants to make a mark more quickly."
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