British asset management firm Schroders has appointed Seth Finkelstein as US product manager for portfolio solutions as part of its strategy to boost multi-asset and portfolio solutions business.
Finkelstein, a co-founder of ING’s multi-asset strategies and solutions group was senior vice-president and client portfolio manager at ING. At Schroders, he will be based in New York and report to Adam Farstrup, US product manager of multi-asset unit, according to efinancialnews.com.
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Earlier in May, the UK-based firm had appointed Geoff Cheetham, a former BlackRock EMEA head to manage UK institutional clients, after replacing Virginie Maisonneuve with Alex Tedder as head of global equities, reported Financial News.
Schroders head of multi-asset investments and portfolio solutions Nico Marais told the news agency Finkelstein’s appointment was in line with its strategy to build out the business in North America.
"This has been on the back of strong growth in our US multi-asset business, especially our strategic beta risk-based asset allocation fund and the growing demand for diversified growth strategies. There is a rapidly growing market realisation that outcome-based investing is what investors want – ranging from wealth preservation to diversified income streams," added Marais.
Over last six years, Schroders’ portfolio team had been bulked up to six portfolio managers and strategists, two senior US-based advisers, in addition to portfolio managers and a quantitative research team in the UK.
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