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New AMC by Credit Suisse

Credit Suisse Group and star fund manager Luis Stuhlberger agreed to set up a new asset management venture under his control, extending the bank’s relationship with Brazil’s most coveted money manager. The venture, to be named Verde Asset Management, will open next January, with Credit Suisse and some of Stuhlberger’s associates as minority partners. The new venture will manage about 30 billion reais ($13.6 billion) in client money, about 50% more than what Stuhlberger handles as chief investment officer of Credit Suisse Hedging Griffo, the bank’s money management unit in Brazil.

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