Credit Suisse has entered into an asset management joint venture with Qatar’s sovereign wealth fund – the Swiss bank’s second largest shareholder.
The joint-venture, Aventicum Capital Management, will be overseen by Credit Suisse Qatar head Aladdin Hangari and be serviced from two centres.
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The Doha-based unit, which will open in early 2013, will focus on emerging markets investments in the Middle East, Turkey and other frontier markets.
International businesses will be run from another division that will open later in the year and be situated outside the Middle East.
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By GlobalDataQatar Holding, a subsidiary of the Qatar Investment Authority, is Credit Suisse’s second-largest shareholder with a 6.17% stake in the Swiss bank.
The Doha-division will be run by Hashem Montasser, formerly head of asset management at EFG- Hermes Holding SAE, who was appointed CEO and CIO.
Martin Keller, Head of Asset Management EMEA for Credit Suisse, will chair the board of the joint venture, the bank said in a statement.
