A process for preparing a catalyst precursor includes, in a first preparation step, impregnating a particulate catalyst support with an organic metal compound in a carrier liquid. The metal of the organic metal compound is an active catalyst component. An impregnated intermediate is formed, and is calcined to obtain a calcined intermediate. Thereafter, in a second preparation step, the calcined intermediate from the first preparation step is impregnated with an inorganic metal salt in a carrier liquid. The metal of the inorganic metal salt is an active catalyst component. An impregnated support is obtained, and is calcined, to obtain the catalyst precursor. The metal is in particular cobalt. The precursor is reduced, in particular with hydrogen, to obtain the active catalyst. Also claimed is a process for the hydrogenation of CO, as well as a process for the hydrogenation of an organic compound using the so-prepared catalyst.