Credit Suisse Asset Management snares head of quant resources

Credit Suisse Asset Management (CSAM) has hired Joseph Cherian from Bank of America's fund management business as managing director to head the new quantitative resources group in New York.

CSAM, the asset management arm of the Credit Suisse Group, with approximately $324.4 billion under management, said the creation of the new group will help provide comprehensive quantitative analytics and research worldwide.

Cherian heads the team responsible for global quantitative research and asset allocation processes. His job will be to help manage and provide advice on CSAM’s actively managed investment portfolios. He started this week and reports to Michael Kenneally, chairman and global chief executive of CSAM.

Cherian joins from Banc of America Capital Management, where he was managing director heading the quantitative equity research group that serves the banks active equity platforms and the private bank. In addition, he has taught and conducted research in quantitative finance, fixed income and derivatives at Cornell, Amsterdam and Boston universities.