Aventicum Capital Management plans to open an office in Switzerland this year, Aladdin Hangari, head of Credit Suisse Qatar, tells MEED.
The Switzerland-based hub of the asset management joint venture between Credit Suisse and Qatar Holding will mainly cater to international clients.
The strategy is to grow it both on the domestic side and also by building out international hubs. Were exploring product launches in connection with real assets and also have a European equity business, which were in an advanced stage toward launching this year, says Hangari, who runs Aventicum.
Weve already started our Doha-based Mena [Middle East and North Africa] business and also have other Mena products for the Middle East.
Qatar and Credit Suisse have a close relationship, with the bank advising some of the worlds largest acquisitions by the Qatari sovereign wealth fund. Switzerlands second-largest bank has also been advising on the launch of a QR45bn ($12.4bn) investment firm called Doha Global Investment Company, which is currently on hold.
Qatar Holding bought a 6.2 per cent stake in Credit Suisse in February 2008, increasing it to 8.9 per cent in October 2008. It holds 1 per cent in the banks derivatives.