Ramon Koss, head of Credit Suisse’s hedge fund business, has resigned after holding the position for only one year.
Koss, who oversaw the $20 billion business, one of the largest in the world, is leaving to pursue an undisclosed opportunity, says a Credit Suisse spokeswoman.
The bank has not appointed a replacement. Koss supervised the bank’s funds of hedge funds, single-manager hedge funds and index investment products, all of which had separate heads. “Management is looking at the best structure for this part of the business, but there is no urgency,” says the spokeswoman. Credit Suisse denied Koss’s departure is linked to the $6.5 billion loss from Amaranth Advisors, one of the bank’s funds of hedge funds investments, collapse in September.