Credit Suisse has announced the second senior role in its asset management business in the past two weeks. Omar Cordes, formerly of London-based hedge fund CQS, is taking on the newly-created role of head of Asia Pacific distribution for asset management, following last weekÆs internal promotion of Tony Iliya from the fixed-interest team as vice-chairman of asset management for Asia-Pacific.

Cordes returns to a company where he spent five years working out of the London office as head of leveraged funds in the 1990s, and was responsible for raising seed money for hedge funds sponsored by the company. His knowledge and experience of alternative investments will be brought to bear on this new role.

ôThe products created by the asset management division include cash management and multi-asset portfolios,ö Cordes says.

ôWe have fund of funds in the alternative investment arena as well as traditional asset management, including sector and regional funds. We also have strengths in private equity, real estate and hedge funds, and want to offer a broad range of products. But it is fair to say that alternatives will be a new emphasis,ö he adds.

As for plans on the distribution front, Cordes stresses that Credit Suisse has a pan-regional approach. ôAustralia is a well-developed market and we have had a presence there on the retail and institutional side for quite a while,ö he explains.

ôWe are rebuilding in Japan and have two joint ventures: Woori Credit Suisse Asset Management in Korea and ICBC Credit Suisse Asset Management in China. In Singapore, Hong Kong and Taiwan we plan to develop institutional clients and work with distribution partners.ö

Tony Iliya, Credit SuisseÆs new vice-chairman for asset management, has been charged with developing both traditional and alternative products in the Asia-Pacific region. He was appointed three months after Clayton Coplestone, director and head of business development Asia ex-Japan for Credit SuisseÆs asset management division, left the company. Iliya's more senior role should raise the profile of the business in Asia.