Credit Suisse Asset Management Switzerland has started a joint venture systematic firm with ETH Zurich, the firm has announced.
The new spin-off company is called Systematic Investment Management AG (SIMAG) and will provide proprietary quantitative investment solutions for institutional investors.
The new venture will use the latest scientific research from the fields of physics, complex self-organising systems, deep learning and behavioural finance.
David Solo, who was previously CEO of asset manager GAM for 10 years up until September 2014, will be chairman of the board of the new entity.
In the meantime Pascal Schneider will act as CEO of SIMAG, in addition to his current role at Credit Suisse Asset Management as head of business management.
Professor Didier Sornette, who is chair of entrepreneurial risks at the department of management, technology and economics at ETH Zurich, will support further developments of the firm as an advisor and member of its board.
Sornette brings with him 25 years of research into systematically detecting inefficiencies and instabilities in financial markets.
Other members of the board include: Michel Degen, head of Credit Suisse Asset Management Switzerland & EMEA; Filippo Rima, head of equities at Credit Suisse Asset Management; and, Craig Wallis, who most recently was GAM's head of distribution & operations.
The head of portfolio management at SIMAG is Dietmar Peetz, who used to be head of systematic return at Credit Suisse until recently.
He is also joined by Daniel Schmitt as senior portfolio manager, who has many years of experience as a quantitative researcher and portfolio manager at Credit Suisse.
Commenting on this new development, Michel Degen said: ‘Combining Credit Suisse’s investment expertise with innovations from published research and a spin-off company of Switzerland’s renowned ETH Zurich will enable us to introduce highly sophisticated investment solutions that are in line with demand from institutional investors.’