Credit Suisse, Qatar JV Hires Third Doha CEO in Five Years

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Credit Suisse Group AG’s joint venture with Qatar Investment Authority has appointed its third chief executive officer for its Doha subsidiary in five years as the money manager struggles to grow its assets.

Aventicum Capital Management Qatar LLC named Francois Jansen van Rensburg as CEO in January, replacing Habib Oueijan who resigned that month, the firm said in response to questions from Bloomberg. Van Rensburg was already the company’s chief operating officer and will stay on in that role, reporting to Aladdin Hangari, group CEO of Aventicum Capital Management Holding, the company said.

Switzerland’s second-largest lender and QIA, the sovereign-wealth fund of the world’s richest country in per capita income, formed Aventicum in 2012 to expand their investments in developing economies. The firm invests in emerging and frontier markets in the Middle East, North Africa and Turkey.

Asset managers in the Middle East have been hurt by institutional clients choosing to direct their own investments or put money with foreign firms. Doha-based Aventicum manages about $350 million -- only slightly higher than the $300 million target it planned to run in 2013.

(Updates with Doha details in lead.)
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