Senior management at Credit Suisse Asset Management are coming under increasing pressure to turn round the beleaguered division, whose performance is in stark contrast to that of its sister investment bank over the past two years.

Under chief executive David Blumer, transferred from the private banking division to run the expanded asset management division in 2005, profits fell 50% last year. A restructuring of the business has cost €138m ($181m), which meant last year asset management contributed only 4.5% to group profits.