Turnaround hopes: Credit Suisse looks to Kenneally to help right its listing business; Global CEO charged with plugging holes that caused clients to jump ship and assets to fall more than 50%.(News)(Credit Suisse Asset Management)

Pensions & Investments, March, 2003

Byline: Christine Williamson NEW YORK - Credit Suisse Asset Management LLC lost more than half of its U.S. institutional assets under management last year because of poor performance and high staff turnover. U.S. institutional assets dropped 53.8% to $11.5 billion as of Dec. 31, from $24.9 billion a year earlier.

The man on whom CSAM is pinning its turnaround hopes is Michael E. Kenneally, whose first job as the new global chief executive officer of Credit Suisse Asset Management, New York, will be to boost the performance of the company's wide array of investment strategies. That's a directive straight from Mr. Kenneally's new boss, Jeffrey M. Peek, who in January 2002 became vice chairman of the money manager's parent company, Credit Suisse First...

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