Credit Suisse Asset Management has moved to shore up its multi-manager arm with the appointment of Graham Duce as head of its UK multi-manager platform.
Updated with additional material from Professional Adviser at 11:07am
His appointment has taken on extra significiance as it has emerged a further three members of the Credit Suisse multi-manager team have walked out.
Professional Adviser, IFAonline's sister title, says fund manager Kelly Prior and analysts Anthony Willis and Paul Green resigned this week, following hot on the heels of flagship fund managers Gary Potter and Robert Burdett a fortnight ago.
Speculation is rife that the trio is to follow Potter and Burdett to Thames River, but a spokesman for the firm refused to comment.
The development leaves just one of the original team, Scott Spencer, at the firm.
New appointment Graham Duce had previously been responsible for developing CSAM Multi Asset Class Solutions’ relationship with the private bank across the UK.
His appointment follows the resignations of flagship multi-managers Robert Burdett and Gary Potter at the beginning of the month – moves which were dubbed by some intermediaries as the "final nail in the coffin" for CSAM’s UK retail operation.
Duce will be responsible for managing the funds, as well as developing and implementing the business strategy for CSAM’s multi-manager service.
He will report to Ed Robertiello, head of research and selection within CSAM’s Funds and Alternative Solutions unit.
The firm has also appointed Rob Bowie, who has over 12 years experience as a multi-manager portfolio manager. Previously, Bowie helped run the Artemis multi-manager business in the UK, which was acquired by Credit Suisse in 2005.
Stephen Smith, head of funds and alternative solutions, says: “Graham brings to this role considerable experience as a business builder, and has a strong track record as a successful multi-asset portfolio manager.
“We are committed to having a strong asset management business in the UK, which includes our multi-manager business, and our intention is to grow this going forward.
“We are also committed to ensuring that we have the best possible talent and resources in place to serve the needs of our clients, and both Graham and Rob will play a key role in that process.”
Ed Robertiello adds: “We are delighted that Graham will be heading up our UK Multi-Manager team, and that he is joined by Rob Bowie.Graham has been with Credit Suisse for over five years, and in that time has built a substantial multi-manager, multi-asset class business for our Private Banking clients, including both high net worth individuals and institutions.
“We are confident that Graham, with over 20 years of industry experience, will have the same success with our UK multi-manager client base that he had in his previous role.”
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