CSAM execs depart after role merge

Credit Suisse Asset Management(CSAM) has combined its Australian and Asian equity teams, resulting in the departure of two executives, including former head of Australian equities Craig McCourtie.

McCourtie has led the Australian equities business at CSAM since 2001.

Andrew Spence will also exit the firm, after his role as a client portfolio manager was made all but redundant following the changes.

As part of the re-structure, head of Asia ex-Japan equities Peter Sartori now adds the Australian equities division to his list of responsibilities.

Sartori reports through to CSAM's London-based global co-head of equities Mark Burgess, who is also settling into a new role within the Credit Suisse stable.

Burgess has only been in the job since May, having been appointed to oversee all global equity operations with the exception of the US, which remains with co-head Greg Sawers.

CSAM chief executive officer Andrew McKinnon says the changes will have minimal impact on the management of its listed property trust, Australian small cap equities and Asia ex-Japan portfolios.

"This change is consistent with Credit Suisse Asset Management's strategic shift to become a more functionally orientated firm globally," McKinnon says.

"By reorganising our Australian and Asian equities teams, we have created an enhanced equities platform to deliver in the Asia Pacific region," he says.