Overhaul of Credit Suisse AM raises questions

Credit Suisse’s move to fold its funds arm into its private bank is seen as a logical step to reduce costs, but means it is cutting staff in its Asia AM unit at a time when other firms are ramping up in the region. The creation of the integrated wealth management unit – to be run in Asia-Pacific by Francesco de Ferrari, previously regional head of private banking – will take place as part of the group reorganisation announced last week. The move has resulted in the recent depart…