CQS, the $11.9 billion credit-focused alternative investment firm led by Michael Hintze, has appointed former CSFB colleague and New Finance Capital founder Marc Hotimsky as the firm’s new chairman.
As a senior member of the management team, Hotimsky will assist in furthering CQS’ institutionalisation, according to a statement from the firm. “I am pleased to welcome Marc to CQS, especially as we were colleagues at CSFB where he ran the team that worked on the seeding of CQS at our inception,” said Hintze, CQS’ CEO and senior investment officer.
“He brings with him significant, relevant experience and will broaden our management bench. Marc will help us to identify opportunities to strengthen and deepen our footprint and trading talent in what we see as an exciting time for alternative asset managers.”
Hotimsky has long experience of the investment banking and hedge fund worlds. He co-founded New Finance Capital, the fund of fund groups that was acquired by Schroders in 2006, and subsequently ran Schroders New Finance Capital for five years until 2011.
Before that he spent eight years at CSFB from 1992 to 2000, having previously worked at JP Morgan, Citibank and Bankers Trust – working from 1996 as a member of the firm’s executive board of directors, with responsibility for fixed-income activities worldwide.
He previously built the firm’s foreign exchange and emerging markets businesses, two activities that he ran directly until 1996. In 1999, following the merger with Credit Suisse Financial Products, he became global co-head of the fixed-income and derivatives division of Credit Suisse First Boston, the largest division of the firm in terms of size and profitability.
Since spinning out from CSFB in 1999, CQS has grown into a large credit-focused global multi-strategy asset management firm – with total assets under management of almost $12 billion. CQS has over 250 staff located globally, 87 of whom are specialist investment professionals.
The firm launched its first convertibles-focused hedge fund in March 2000 and has since expanded its offering to include additional strategies and bespoke solutions in the areas of multi-strategy, convertibles, asset-backed securities, credit, loans and equities.