People Moves
Wells Fargo AM Names New Chief Executive
The role is global in scope, the firm confirmed to this news service.
Wells Fargo has
appointed Nico Marais as chief executive and head of Wells Fargo
Asset Management, with immediate effect. The asset management arm
has $476 billion in AuM, as at end-March this year.
Most recently, Marais was co-CEO of the asset management business
and previously was WFAM president and head of multi-asset
solutions. He replaces Kristi Mitchem, who left WFAM in January
this year, the firm said in a statement. The role is a global
one, a spokesperson confirmed to Family Wealth
Report.
Joining WFAM in February 2017 from UK-listed Schroders, Marais
had been head of multi-asset investments and portfolio solutions.
Before that, he was global head of active portfolio management
for BlackRock’s multi-asset and client solutions team.
Previously, Marais had several leadership roles with Barclays
Global Investors, including global head of investment strategy
and head of active equity for Europe. He also worked for The
World Bank Group as a bond trader and for the South African
Reserve Bank as a gold trader.
