Credit Suisse's asset management business is not having an easy time of it. A prominent departure in the fund division forces the bank to make some management changes.
In March, Colin Fitzgerald was announced as the new global head of distribution and head of Europe at Credit Suisse Asset Management (CSAM). But according to a statement from Switzerland's second-largest bank, the former executive who came from US rival Invesco is already gone.
It was learned on Tuesday that he left Credit Suisse for personal reasons, but no further details about Fitzgerald's departure were made available upon request.
A New Position
As a result of the departure, the division has had to reshuffle its management team at short notice. Jo McCaffrey (pictured below), who joined CSAM from New York-based Pinebridge Investments at the same time as Fitzgerald as head of product, will now take over as head of the fund business in Europe, the Middle East, and Africa (EMEA) region.
(Image: Credit Suisse)
