Alain DeCoster, co-managing director of alternative investments at Credit Suisse Asset Management (CSAM), has left the group following a decision to merge its fund of hedge funds arm with the one managed by holding company Credit Suisse First Boston (CSFB), the US investment bank.

DeCoster is due to leave CSAM "to pursue other interests" at the end of August. The new platform will bring together CSAM funds totalling $3.5bn (€3.6bn) and CSFB products worth $2.5bn to make a $6bn operation. The merger will create one of the largest funds in the global alternatives sector.