Credit Suisse Group has unveiled its plans to open a new hedge fund in Brazil, named Gauss, next year to offer new investment alternatives for clients.
According to a Reuters report, Fabio Okumura, who joined the bank from Itau Unibanco earlier this year, will oversee the management of the new fund.
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Credit Suisse will also see a spun-off hedge fund venture Hedging-Griffo, which was acquired by the firm in 2007, which will be named as Verde Asset Management.
Verde Asset Management, which will continue to have Credit Suisse as partner, will begin its operations in January with 40 employees.
Following the spin-off, Luis Stuhlberger will lead the business of Verde in Brazil.
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