New York, June 3, 2009 – Asset Management Finance LLC (AMF) announced today that Brian D. Finn has been named Chief Executive Officer, succeeding Norton H. Reamer, who assumes the title of Vice-Chairman and Founder.
Mr. Finn has served as Chairman of the Board of AMF since August 2008 when Credit Suisse (NYSE: CS) purchased a majority interest in AMF. In assuming this new role as Chairman and CEO, he will relinquish his duties as Chairman of Alternative Investments with Credit Suisse’s Asset Management business, but will continue to have an active role at Credit Suisse as a Senior Advisor, focusing on Asset Management strategy and certain strategic partnerships. Mr. Reamer, who has been CEO of AMF since its founding in 2003, will become Vice Chairman of the Board and continue as an advisor to the firm.
Headquartered in New York, AMF provides asset management firms with capital while enabling them to maintain their ownership, independence and operational autonomy. Since its formation, AMF has completed 14 transactions with both traditional and alternative managers for a broad range of initiatives including owner liquidity, internal equity transfers, management buy-outs and other strategic objectives. AMF’s investments are diversified across a wide variety of strategies consisting of emerging markets, domestic and international equities, real estate, currency, timber and wealth management. In August 2008, Credit Suisse purchased an 83 percent stake in AMF from National Bank Financial of Canada for $384 million. The investment in AMF, along with a credit facility provided by Credit Suisse, has more than tripled AMF’s capital base.
“AMF is building a strong global brand among asset managers as a provider of innovative and attractive capital solutions,” said Mr. Finn. “With the asset management sector undergoing significant change, this is an exciting time to be taking the helm of this organization.”
“AMF has successfully created a new investment model to help asset managers remain independent, and Credit Suisse has added tremendous value and business momentum,” said Norton Reamer. “With the partnership working so well, now is the appropriate time for me to hand over the CEO reins to Brian and the existing management team, all of whom are remaining in place. I look forward to the new role I will have at AMF, which will allow me continued active involvement with colleagues, clients and prospective clients.”
Before being named as Chairman of Alternative Investments at Credit Suisse, Mr. Finn was a member of the Executive Board of Credit Suisse Group. During his tenure there, Mr. Finn has held numerous positions, including President of Credit Suisse First Boston (CSFB), President of Investment Banking, Co-President of Institutional Securities, Head of Alternative Investments and a member of the Office of the Chairman.
Mr. Finn spent five years with the private investment firm Clayton, Dubilier & Rice and re-joined CSFB in 2002. Before joining Clayton, Dubilier & Rice in 1997, he had been with CSFB for 15 years advising a wide variety of corporate clients and served as a Managing Director and Co-Head of Mergers & Acquisitions.
Mr. Finn, 48, is Chairman of the Undergraduate Executive Board of The Wharton School of the University of Pennsylvania, is a member of the Board of the City Kids Foundation and the Board of the Intrepid Fallen Heroes Fund. Mr. Finn received a Bachelor of Science Degree in Economics from The Wharton School of the University of Pennsylvania.
Prior to establishing AMF, Mr. Reamer,73, was founder, Chairman, and CEO of United Asset Management Corp. from its inception in 1980 until its sale in September 2000 to Old Mutual Plc. Previously, Mr. Reamer was the CEO and President of Putnam Investments in Boston. He began with Putnam in 1967 as a fund manager, became Director of Research in 1968, Chief Investment Officer in 1970, President in 1975, and CEO two years later.
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Credit Suisse
As one of the world’s leading banks, Credit Suisse provides its clients with private banking, investment banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 46,700 people. Credit Suisse is comprised of a number of legal entities around the world and is headquartered in Zurich. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including alternative investments such as private equity, hedge funds, real estate and credit, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse’s Asset Management business manages portfolios, mutual funds, and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 23 countries, Credit Suisse’s Asset Management business is operated as a globally integrated network to deliver the bank’s best investment ideas and capabilities to clients around the world.
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