New head for Credit Suisse AM Asia

Added 11th December 2015

The bank has appointed Michael Levin as head of asset management for Asia-Pacific, according to an internal memo seen by FSA.

New head for Credit Suisse AM Asia

He will be responsible for developing and executing regional business strategy for asset management in the region, including expanding local distribution as well as the product and platform build out, the memo said.

Levin will continue to be based in Hong Kong and he takes on the new role in addition to his current role as head of asset management products in Asia ex-Japan.

He will report to Charlie Shaffer, global head of distribution, and report locally to Neil Harvey, vice chairman of asset management in Asia-Pacific and CEO for Hong Kong and Greater China.

The bank’s asset management unit said Asia-Pacific has been a major contributor to net new asset growth globally, reflecting particular strength in Japan and in China, where the bank’s has a joint venture with ICBC.

According to officials, the onshore joint venture with ICBC is currently the second largest asset manager in China.

On the private banking side, Credit Suisse earlier this month announced three senior hires as it goes after ambitous goals in Asia.

In October, Credit Suisse CEO Tidjane Thiam said Asia would be key to the bank’s profitability in the future.

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