25 Jul 2007, Joe Marsh, Risk magazine
David Blumer, Credit Suisse’s chief executive for asset management, said: “This partnership represents another significant development for our asset management business in South Korea, as we continue to expand our footprint in the Asia-Pacific region, and it underscores our ability to partner with clients in providing them with comprehensive investment solutions.”
In 2006, Credit Suisse launched an asset management joint venture, Woori Credit Suisse Asset Management, which ranks fourth in the country by assets under management.
Founded in 1988, NPS is the sole fiduciary for the administration of South Korea’s national pension scheme and the management of the National Pension Fund of South Korea. NPS has more than $200 billion in assets under management, with a growth rate of around $20 billion a year.