Note: This story was updated at 9:45am on 26 March.
Colin Taylor has been promoted to the position of managing director of Credit Suisse’s fund management operations in Britain and Ireland following the redundancy of the firm’s previous chief executive officer, David Norman.
A spokesperson for the company confirmed that Norman had been one of 650 of Credit Suisse’s London staff made redundant in December.
Taylor has worked at the company for over a decade and is head of alternatives. He will take on the managing directorship as an additional role.
Norman joined Credit Suisse in August 2008 from Morley Fund Management, where he was director of marketing and products. Morley was subsequently rebranded Aviva Investors. He has also worked at Threadneedle, ISIS and Insight.
He confirmed to Fund Strategy that he left Credit Suisse on January 12 because the role of chief executive was no longer applicable after Aberdeen’s takeover.
He says he is keen to get back into the industry and is having conversations with a range of groups.
Aberdeen will take over Credit Suisse’s fund management arm in June, excluding its fund of funds operation, subject to shareholder approval. Gary Bartlett, formerly the global head of fixed income at Aberdeen Asset Management, also left as part of the merger.