CAAM sets up in Australia

The group said its assets under management in Australia and New Zealand had grown to almost A$1.2bn (US$1bn) since the beginning of 2007.

Richard Borysiewicz, country head, Australia and New Zealand, said: "The opening of CAAM Australia is an important strategic step and recognises the importance of the Australian and New Zealand markets for CAAM Group.

Borysiewicz continued: "The Sydney office has seen positive growth over the last year and will continue to focus on institutional and multi-manager clients through high quality, innovative products and outstanding local support."

CAAM Australia has appointed John Maragiannis as director of distribution.

Maragiannis joined from Crédit Suisse Asset Management (CSAM) where he was head of institutional sales until March 2006.

Prior to this he ran the institutional sales function for Schroders Investment Management.

In Paris, CAAM has appointed Laurent Crosnier as head of Euro fixed income and credits.

Crosnier, who replaced Jean-Francois Boullier, has also become a member of the CAAM Executive Committee.