Credit Suisse Asset Management (CSAM) has abandoned its search for a new head of asset management in Australia and instead named its interim appointee, Keith Ince, to the position permanently.

Ince, who is also CSAM executive vice chair, was originally hired as temporary head of asset management in June for a six-month transitional period while a permanent appointment could be found. However, CSAM confirmed yesterday Ince would now take on the role permanently as well as continuing as executive vice chair. Ince, who achieved renown in the Australian funds management industry after starting boutique manager Portfolio Partners in 1994, was not available for comment yesterday. His appointment at CSAM in June followed a period of instability at the group with the resignation of long-time chief executive Andrew McKinnon in March. As well, CSAM also lost its head of distribution, Brian Thomas, in February and several members of its retail team over the last 12 months.

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