Carmignac Gestion has named Michael Schütt as its new country head Germany and Austria effective 1 September 2014, replacing Kai Volkmann.
Schütt has joined Carmignac from Bank of New York Mellon where he served as head of wholesale Germany. Prior to this, he also served as head of sales German Banks at Invesco Asset Management and in various other roles at Citibank AG, Morgan Stanley, Merrill Lynch International Bank and Deutsche Bank.
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Additionally, the firm has appointed Roland Schmidt as head of wholesale and retail, and Frank Rüttenauer as new head of retail business development.
In their new role, both Schmidt and Rüttenauer will report to Michael Schütt.
Prior to joining Carmignac, Schmidt worked as head of sales at M&G International. Previously, he also worked at Baring Asset Management and Fidelity Investments. Frank has 15 years of experience in the financial industry and has worked at Carmignac for 7 years.
Davide Fregonese, global head of sales, said: "Our growth in Germany and Austria, and their strategic weight for Carmignac, has lead us to tailor our local organization and to put in place a dedicated wholesale and retail division aimed at further supporting our local distributors and partners. This new client focus will further improve the services we provide to our distributors and, therefore, will be beneficial for our German and Austrian investors."
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