Credit Suisse expands into Asia
Credit Suisse Asset Management(CSAM) is to make a decisive push into the Asian market by opening an office in Hong Kong and revealing a new distribution strategy for the Asia ex-Japan region.
CSAM says it expects to market its existing product range through both retail and institutional distribution channels in the region, and will also explore new products and joint venture opportunities in these markets.
CSAM Australian retail national sales manager Clayton Coplestone has been appointed to head up the venture, relocating to Asia to take on the position of Asia ex-Japan business development manager.
Coplestone says he will develop and coordinate the distribution strategy, recruit the Asian team, which will consist of two other staff, and look at business opportunities in the region.
Australian head of distribution Brian Thomas will assume an expanded role to include distribution in Asia ex-Japan, but unlike Coplestone will remain Sydney- based.
CSAM Asia-Pacific chief executive Andrew McKinnon says the move is due to the growth opportunities in Asia, particularly funds management markets such as China, Korea and Taiwan.
“Since various divisions of Credit Suisse group already have a presence in the key Asian markets we plan to expand into, we hope to leverage the existing experience and relationships of the group,” McKinnon says.
Coplestone's move to Asia will leave the position of head of retail sales in Australia vacant, which the group will seek a replacement for.
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