Credit Suisse loses local authority mandate.

Investment Adviser, June, 2007

Credit Suisse has lost a London local authority AGBP60m bond mandate with recent departure of key staff. The London borough of Lambeth withdrew from the deal after the bank's fixed income chief Ian Fishwick resigned, claiming a high turnover of staff was at odds with its key criteria for selecting a fund manager.

Credit Suisse says it has embarked on an aggressive recruitment drive, which included the appointment of Raphael Kassim as head of emerging markets fixed income. Aberdeen Asset Management will retain the fixed income brief until a new manager is found.