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Credit Suisse expands global hedge fund advisory service

Date: Wednesday, May 9, 2007
Author: James Langton, Investment Executive

Service now available to private banking clients around the world

Credit Suisse announced today that it is expanding its hedge fund advisory service to its private banking clients worldwide, effective immediately.

The Hedge Fund Advisory team, which was initially launched by Credit Suisse in the UK in 2005 to serve ultra high net worth private banking clients and family offices, will now be available to the bank’s private banking clients around the world, the firm said.

The service, a joint initiative between Credit Suisse’s Private Banking and Asset Management businesses, will provide clients with access to some of the world’s leading hedge funds and strategies. The Asset Management division will develop and deliver the service to clients of the Private Bank.

Craig Lewis will lead the new global team. He will be based in London and report to Steve Smith, Head of Funds and Alternative Solutions. Smith said, “The client base and attitude towards hedge funds is changing, and client demand for access and advice relating to hedge funds is expanding rapidly. Both institutions and private clients are looking for advisory services and customized solutions, and Credit Suisse is now able to offer this service to high net worth clients globally. I am delighted that Craig will be heading this team, as he has a wealth of experience, not only in building investment platforms but also in Private Banking, our key partner in this “One-Bank” initiative.”

“When you have such a strong hedge fund franchise, whether in the areas of manager selection, index strategies, or hedge fund incubation, it makes sense to share this with as many clients as possible, both on an advisory as well as discretionary basis,” added Lewis. “Our confidence in Credit Suisse’s ability to continue to excel in this area comes not just from the firm’s formidable resources and management commitment, but also the experience and professionalism of our key industry experts such as Ed Robertiello, Eleonore Dachicourt, Salvatore Cordaro and Christof Schmidhuber, who I am fortunate to be joining.”