Staff exodus puts CSAM on rating watch negative

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Fitch Ratings has placed Credit Suisse Asset Management in the UK on 'rating watch negative' as a result of excessive staff departures.

The London-based investment management activities, which exclude alternative asset and real estate funds, are currently rated AM2, the second of five ratings that the agency uses to indicate asset managers' capabilities.

Since November, Fitch says CSAM has lost at least five senior managers including the head of UK fixed income and head of European credit. They

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