To misquote Oscar Wilde, "To lose one ceo is a tragedy, but to lose two is pure carelessness." Yet, that is what is happening at Credit Suisse Asset Management (CSAM). In December, Phillip Colebatch, ceo for the entire unit, announced that he had decided to retire in the first quarter of this year. Now, Jim McCaughan, ceo for CSAM Americas,is stepping down, a spokesperson told the MutuaFundWire.com.

Larry Smith, chief investment officer, will serve as acting ceo. The spokesperson did not have any details as to whether or not the firm would be actively seeking a replacement for McCaughan.

In his post, McCaughan supervised the transition of the firm's mutual funds from no-load to load products. He also was involved in the integration of DLJ's asset management group into CSAM. Credit Suisse acquired DLJ in 2000. 

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