Rami Hayek joins Credit Suisse AM

Credit Suisse has named Rami Hayek as Asia-Pacific co-head of distribution for asset management.

Based in Hong Kong, Hayek reports to JC Perrig, head of distribution for asset management, and Anthony Iliya, executive vice-chairman of asset management for Asia-Pacific.

Previously, Hayek was the global head of equity and fixed income investments at Deutsche BankÆs private wealth management group, where he managed a team of product specialists and was responsible for worldwide equity and fixed-income product strategy. Before that, he held a number of senior management roles in sales and product development with Barclays Bank, Bankers Trust, Bank of America and Bank of Boston.

Hayek joins Omar Cordes as Asia-Pacific co-head of distribution for asset management, in a bid to expand coverage of key clients in both the retail and institutional channels. Cordes has held his position since October 2006.

ôOur business has been growing rapidly, as evidenced by significant mandates such as the strategic partnership with Korea's National Pension Service (NPS). Hence the need to hire additional talent to support the business,ö says a Credit Suisse spokesperson.

In July, Credit Suisse signed a strategic partnership agreement with Korea's National Pension Service. The partnership covers a broad range of services that include managing assets of the NPS and also leveraging Credit Suisse's global experience to provide risk management, governance, training, and technology transfer. The initial term of the partnership is three years.

In terms of Credit SuisseÆs current initiatives, the spokesperson says the retail and institutional franchises are key to expansion plans in Asia, as well as the private banking business.

The spokesperson declined to elaborate of the distinction between the roles of Hayek and Cordes as co-heads.