PineBridge Investments has hired George Hornig, the former managing director and co-global chief operating officer at Credit Suisse Asset Management, to serve in a similar capacity at the New York-based institutional and individual investment management firm.
In an announcement, the firm explained that Hornig will be its new senior managing director and chief operating officer. His responsibilities include the management of PineBridge’s “operations, technology, product development and marketing and communications.”
Win Neuger, CEO, said in the Nov. 8 press release that Hornig’s “ability to identify and execute business strategy solutions, in addition to his proven track record in managing the functional areas of large global asset management firms, will be a major driving force in positioning the firm as [it] continue to pursue [its] strategic goals.”
Alternately, a PineBridge spokesperson further explained in a conversation today that Hornig’s position is newly created and that he will also join the firm’s Executive Committee. He will serve with Neuger, Bob Thompson, senior managing director and head of alternative investment, Hans Danielsson, senior managing director and head of listed equities and fixed-income, and Head of Human Resources Connie Miller on the governing board.
Since his departure, Suzanne Fleming, a Credit Suisse spokesperson, told IMW that the Zurich-based financial service firm has replaced Hornig with Tom Sipp, who is now the sole chief operating officer and CFO for the asset management arm.
Previously, Fleming explained that Hornig co-managed the division with Gerhard Fusenig. Fusenig left his role in August to head its asset management business in Switzerland.
As of Sept. 30, PineBridge Investments had $83 billion in assets under management for its client base across its listed equity, fixed-income, private equity and hedge fund opportunities, the announcement stated.