Credit Suisse named Markus Ruetimann as the new global chief operating officer of Credit Suisse Asset Management (CSAM).
Ruetimann will report to Ulrich Koerner as the Swiss bank separated the business into its own division following the implosion of around $10 billion of funds related to British supply chain financier Greensill.
Koerner told Credit Suisse employees in a memo that in his role as Global COO of CSAM, Markus will have global oversight over technology and digital solutions, change and project management, operations as well as data and business services. He will also lead the regional COO teams across EMEA/Switzerland, the Americas and APAC.
The former CSAM Chief Operating Officer Mike D’Angelo will support Ruetimann in helping to develop a new operating model, said Koerner. The changes within CSAM follow a separate announcement that Credit Suisse’s chief compliance officer of its domestic unit is quitting.
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