Economy
Credit Suisse Group AG: New head of ETFs |
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| Economy | |
| Written by Paul Williams | |
| Thursday, 04 February 2010 | |
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Credit Suisse Group AG (NYSE:CS) has announced today that it has appointed Dan Draper to head their Exchange Traded Funds (ETFs) unit. On announcing the appointment Credit Suisse said that the appointment should be taken as a sign of Credit Suisse’s commitment to the expansion of its ETF platform. Draper, formerly a Managing Director and Global Head of Exchange Traded Funds (ETFs) at Lyxor Asset Management, will join Credit Suisse in its Asset Management business as Managing Director and Head of ETFs. He will start later this spring, be based in London and report to Oliver Schupp. Schupp, Head of Beta Strategies in Asset Management and co-Head of the Bank’s ETF Steering Committee, said, “Dan’s extensive experience over the past decade in the development and trading of ETFs will be invaluable as we continue to grow this business. Our ETF business is a true One Bank collaboration, and together with our partners in the Investment Bank and Private Bank, we made significant strides in the expansion of our ETF platform in 2009. This included the launch of 16 new ETFs in Switzerland, where we are the largest player by AUM, as well as expansion across Europe with the launch of 17 ETFs in Italy and 16 ETFs in Germany. We also launched a physically backed Gold ETF in October 2009 which has attracted over $1.3 bn since launch.” Draper joins Credit Suisse from Lyxor Asset Management, a division of Societe Generale, where he was Managing Director and Global Head of ETFs. Prior to joining Lyxor, Draper was the Director of UK and Ireland Business Development at iShares, a division of Barclays Global Investors. He received an MBA from The University of North Carolina at Chapel Hill and a BA from The College of William and Mary. He is a CFA, CMT, CAIA and FRM charterholder and also serves on the Board of Advisors for the William and Mary Mason School of Business. |
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