Credit Suisse to open new Brazil hedge fund next year
SAO PAULO (Reuters) - Credit Suisse Group AG plans to open a new hedge fund in Brazil called Gauss next year, a move aimed at offering new investment alternatives for clients, a senior executive said on Wednesday.
Gauss will be overseen by star fund manager Fabio Okumura, said Jose Olympio Pereira, chief executive of Credit Suisse's unit in Brazil. He declined to give details on the new venture.
Okumura was hired by Credit Suisse from rival Itau Unibanco Holding SA early this year, where he was head of proprietary investments.
(Reporting by Guillermo Parra-Bernal; Editing by Chizu Nomiyama)
