George Hornig is stepping down as co-COO of Credit Suisse Asset Management, which houses all of the firm’s global alternative investment activities. The move was first announced to Credit Suisse AM staff earlier this afternoon via memo, and confirmed by a firm spokeswoman.
No word yet on his future plans, which one insider suggested could include a continuation of existing charity work.
Also announced recently was that Hornig’s fellow co-COO Gerhard Fusenig is moving into a new role in Switzerland. The pair will be replaced by a single chief operating officer: Thomas Sipp, Credit Suisse Asset Management’s current CFO who is expected to maintain both roles.
I’ve been hearing for weeks about big organizational changes coming at Credit Suisse Asset Management, which in recent months has lost its co-head of fund placement, its co-head of customized fund investments and a bunch of folks from DLJ Merchant Banking. Not sure if today’s moves are related, or just coincidence…
Here is Hornig’s bio, from the Credit Suisse website:
George R. Hornig is a Managing Director of Credit Suisse in the Asset Management business, based in New York. He is Co-Chief Operating Officer (Co-COO) of Asset Management with responsibilities over the global Alternative Investments business and Head of Asset Management Americas. He is a member of the Asset Management Management Committee.
Mr. Hornig rejoined Credit Suisse First Boston in November 1999 from Deutsche Bank where he worked for seven years as an Executive Vice President, responsible for that company’s administration and operations in the Americas. Prior to that, he worked at Wasserstein Perella where he served as Managing Director and Chief Operating Officer. Previously, he worked at Credit Suisse as a banker in the Firm’s M&A group during much of the 1980s.
Mr. Hornig holds an A.B., M.B.A. and J.D. from Harvard University.