Credit Suisse's Asset Management Division Launches Systematic Trading Group

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Jun 23, 2011, 02:49 ET

NEW YORK, June 23, 2011 /PRNewswire/ -- Credit Suisse Asset Management today announced the launch of the Systematic Trading Group ("Systematic Trading" or "the Group") within its Asset Management Division. Systematic Trading will offer investors access to actively managed liquid trading strategies that will seek to achieve risk-adjusted returns with relatively low correlation to traditional markets within a pre-defined risk management framework.

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The Group, which will offer dynamic asset allocation across multiple systematic strategies, will be managed by Mika Toikka, formerly the Global Head of Risk and Strategy for Proprietary Trading in Credit Suisse's Investment Bank.

The Group will build on the Asset Management Division's existing quantitative products. The Group will initially manage approximately $500 million of assets, which will include Credit Suisse seed capital and assets from some of Credit Suisse Asset Management's existing quantitative platforms. It will have a centrally managed and unified research process with a pre-defined risk management and governance structure. The Group is expected to be comprised initially of approximately 20 traders, research analysts and front office personnel offering a diverse set of liquid strategies across multiple asset classes with transparency.

Mika Toikka, the head of Systematic Trading, said, "Leveraging our pre-existing infrastructure, Asset Management is consolidating platforms and deploying the resources necessary to build the Systematic Trading Group and attract world class trading talent. We have started to bring together a team of traders from within Asset Management with a group of hedge fund managers and former proprietary traders from other top-tier financial institutions to build on the track record of Asset Management's quantitative product line to offer our clients access to systematic trading strategies."

With the launch of the Group, Credit Suisse's Asset Management division is forming a Systematic Trading Advisory Board. The Board will initially consist of Robert Engle, Nobel Prize in Economics 2003 (Professor of Finance, Stern School of Business) ; Olivier Ledoit, the former head of Statistical Arbitrage at Credit Suisse Global Prop Trading in Europe (Permanent Research Fellow at University of Zurich); and Andrew Mullhaupt, formerly of Renaissance Technologies and SAC Capital (Research Professor at Stony Brook University).

Andy Stewart, Head of Liquid Alternatives for Asset Management, said, "We are committed to developing solutions that meet the evolving needs of clients, while seeking to actively manage their risk profiles. Through the creation of Systematic Trading, we intend to satisfy the demand for liquid and transparent systematic investment strategies with diversified alpha, all within a governance framework."

Ravi Singh, Head of Alternative Investments for Asset Management, said, "Systematic Trading further strengthens our alternative investments platform that offers investment products that seek to provide opportunities for growth and diversification in today's complex markets."

Credit Suisse AG

Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 50,100 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Asset Management

In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including hedge funds, credit, index, real estate, commodities and private equity products, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse's Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse's Asset Management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.

All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.

Disclosure

This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.

SOURCE Credit Suisse AG