Former Artemis fund of funds manager Aidan Kearney is to be reunited with former colleague Rob Bowie at Credit Suisse Asset management after being appointed co-head of the UK multi-manager team.
Kearney previously headed the 134m Artemis fund of funds range which was bought by CSAM back in April 2005.
He left at the time to join London and Capital Management before moving to Premier Asset Management in the role of senior investment manager of pooled funds.
He will be co-head at CSAM with Graham Duce, who was appointed to run the funds with Bowie last month.
Chelsea Financial Services managing director Darius McDermott believes Kearney is a big enough hire to prevent assets flooding out of the door.
He says: “Aidan is a good fund manager, he is very experienced and has a reasonable track record although it is not outstanding. Credit Suisse now has a credible multi-manager team of four guys, with one or two in junior positions likely to arrive in the near future.”
Kearney’s appointment is the third in total for the group, who lost the majority of its team, including co-heads Gary Potter and Robert Burdett, to Thames River Capital last month. The trio join Scott Spencer, who has decided to buck the trend and stay with the firm.
Premier Asset Management head of sales and marketing Simon Weldon says: “We understand the financial pressures that occur when a house, such as Credit Suisse, seemingly under some distress, has to buy in skills as a matter or urgency.”
He also says that none of the team of six that Kearney leaves behind will follow Kearney, including stalwart manager David Hambidge, who has been at the firm for 20 years and oversaw the launch of the fund of funds range back in 1995.