A Credit Suisse manager has been appointed to the board of Aberdeen Asset Management. It will feel like coming home.
Aberdeen Asset Management has elected Gerhard Fusenig as a non-executive member of its board. And not for the first time: Fusenig from 2009 through 2012 already served as member of the board at Europe's largest independent asset manager.
The 52-year-old German citizen had joined Aberdeen after Credit Suisse (CS) sold a large chunk of its asset management business to the Scottish company in 2008. In the same year, Fusenig had taken over as CS' co-head of asset management alongside Bob Jain.
Representing CS
Fusenig was the representative of CS on the board of Aberdeen, overseeing the transaction and cooperation between the two companies.
In 2012 CS put asset management and private banking under the combined leadership of Ulrich Meister and Robert Shafir. Fusenig left a year later to spend more time with his family as he explained at the time. Jain went on to assume sole responsibility for the division.
Survivor
Following the sweeping changes taking place at the bank in recent months, most asset-management managers of that period are now gone. Meister had to leave in 2015, Jain departed in March, Shafir is about to exit later in 2016.
Fusenig survived them all. In November 2015 he was elected to the board of CS unit Credit Suisse Insurance Linked Strategies Ltd. Insurance-linked strategies are a new asset class linked to insurance risks. Fusenig also develops investment projects of his own, according to his profile on LinkedIn.
