The Swiss bank launched a quantitative trading hedge fund last year. The unit is poised for a spin-off, according to a trade report.
Credit Suisse started Qube, a quant and systematic trading hedge fund led by Paris-based trader Pierre-Yves Morlat, last October. The fund has already attracted roughly $1 billion in assets.
The fund will go it alone after a management buyout to create a separate entity called Credit Suisse Quantitative and Systematic Asset Management, or QSAM, a source told trade publication «HFMWeek».
The QSAM team will run the fund out of London and its 100-odd traders will be based in Paris, Hong Kong and Mumbai.
Credit Suisse didn't comment on the buyout plans.
