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New CEO for Asset Management Business
2009-03-25

Former Credit Suisse Managing Director to Grow Funds Business

Shore Capital Group plc, the investment bank focused on equity capital markets and alternative asset class funds, today announces the appointment of Alex Abadie as the Chief Executive Officer of Shore Capital Limited, its Asset Management business.

Alex, 44, has more than 20 years' financial experience in New York, Paris, London and Zurich. Prior to joining Shore Capital, he was Managing Director, Global Head of Products, Investment Solutions and Marketing, in the Asset Management Division of Credit Suisse, where he was responsible globally for structuring all new investment products and providing customised solutions to insurance and pensions clients. He was also a Board Member of Credit Suisse Asset Management Ltd and a Management Committee member of the Asset Management Division.

Prior to Credit Suisse, Alex was Managing Director, Head of Financial Institutions Global Capital Markets, at Morgan Stanley in London.

Alex has a Master of Science (MS) from Stanford University, a Master in Business Administration (MBA) from The University of Chicago and a Senior Management Programme (SMG) certificate from the Kennedy School at Harvard University.

Alex's brief at Shore Capital is to build on the success of the company's diversified asset management business, which currently manages £1.5 billion in London and Berlin. Existing funds include German residential and commercial property, UK hotels, growth capital including pre IPO and VCTs, private client funds and other absolute return products. Alex will be seeking suitable, complementary acquisition opportunities to grow funds under management as well as generating organic growth through the continued launch of house products.

Commenting on the appointment, Executive Chairman Howard Shore, said: "We are delighted that someone of Alex's pedigree is joining us. As a proven team leader, asset gatherer and client-focused professional, Alex has the right credentials to build on the success of our asset management business and help take it to its next stage of development."

Alex Abadie said: "What attracted me to Shore Capital is its reputation for innovation, excellent fund management performance across a diversified range of asset classes and its robust asset management platform. My objective will be to leverage off Shore Capital's impressive track record and infrastructure to develop a much larger business."

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