Wells Fargo Asset Management (WFAM) has hired Kristi Mitchem as its new president, CEO, and head, replacing Mike Niedermeyer who retired in March this year.
Mitchem, who will assume the new role on 1 June, will be responsible for managing over $480bn in assets in institutional separate accounts, mutual funds and stable value portfolios.
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She will be based in San Francisco and will report to Wells Fargo Wealth and Investment Management Group senior executive vice president and head David Carroll.
"With an impressive mix of industry experience, a deep knowledge of the needs of institutional and intermediary investor clients, and proven success in inspiring large high-performing teams, Kristi is the ideal candidate to lead WFAM through its next phase of strategic expansion and growth," Carroll said.
Mitchem joins Wells Fargo from State Street Global Advisors (SSGA), where she most recently held the position of executive vice president. She headed SSGA’s institutional client group for the Americas since 2012.
Prior to that, she was also associated Blackrock and Barclay’s Global Investors.
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