Credit Suisse snags ex-Merrill distribution exec

Credit Suisse Asset Management LLC has nabbed a key executive to oversee its distribution in the wealthy and third-party retail channels. Bob Alderman, a 20-year distribution veteran at Merrill Lynch & Co. Inc., started at CSAM earlier this month as head of U.S. private banking and third-party retail distribution for asset management, spokeswoman Kat Herring confirmed. He reports to Mark Bourgeois, head of asset management Americas. Mr. Alderman was not available for comment. During his time at Merrill, Mr. Alderman was key in developing the firm’s Hedge Access program — which allowed retail investors to access hedge funds and hedge funds of funds — a novelty for the industry at the time. Mr. Alderman left Merrill in 2008 to join Clearbrook Financial LLC, where he was a managing director responsible for overseeing the firm’s product offerings across its retail, family office and institutional segment, according to a press release announcing his hire at the time. Most recently, he was senior vice president and co-head of asset management solutions at Advisors Asset Management Inc. Mr. Alderman has replaced Jack Casey, who left Credit Suisse several months ago, according to a person familiar with the situation, who declined to be identified.