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Credit Suisse scraps EMD mandate & selector exits

Credit Suisse scraps EMD mandate & selector exits

Emerging market debt specialist Andreas Mueller has left Credit Suisse after the Swiss group closed the fund selector’s developing world-focused mandate as a cost-cutting measure, Citywire Switzerland's sister publication Citywire Selector understands.

Mueller was assigned to the Multi Asset Class Solutions team in June 2015 in the wake of previous emerging market specialist, Andreas Hecker, resigning from the Zurich-based unit.

The move saw Mueller move internally to oversee EM operations as part of the three-strong team alongside Christian Faeber and Marco Sohm.

It is understood Credit Suisse opted to close the mandate as part of a 'refocusing' of efforts and because it only had CHF300 million in assets.

Credit Suisse was approached for comment but had not responded at the time of publication.

This latest exit comes in the wake of Credit Suisse undergoing several high-profile changes in its fund selection team over the past year.

This includes Lombard Odier’s former head of open architecture, Laurent Auchlin, being hired in late 2015 to launch a Signature Managed Accounts platform, which was closed after just three months.

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