Credit Suisse investment chief departs
Credit Suisse Asset Management (Australia) chief investment officer Tim Ryan has resigned, citing personal reasons for his sudden departure.
Ryan will formally leave in June but will remain with the group for the next three months to help in the transition process.
Robert Mann, who is currently deputy CIO, and head of fixed interest, will replace Ryan in the top investment position and retain his current role in fixed interest.
Mann has been with the Credit Suisse Group for 15 years and has held the deputy role since 1997.
He will also be the head of the investment committee, and be responsible for asset allocation.
In other company promotions, Craig McCourtie will become head of Australian equities after holding the deputy's role since 1996.
McCourtie will be responsible for equity strategy in addition to his sector and portfolio management responsibilities. Richard Kornman has also been internally promoted to deputy head of Australian equities.
Russell Bye, head of international equities and McCourtie, will join Robert Mann and Lindsay Gibson on the investment committee.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
