Vontobel Asset Management has announced the promotion of Rajiv Jain, a 20-year veteran of Vontobel Asset Management, New York (VAMUS), and the addition of Philipp Hensler, former CEO of Oppenheimer Funds Distributors to the VAMUS team.
Mr. Jain and Dr. Hensler will serve as Co-Chief Executive Officers (Co-CEOs) of the company’s New York-based money management boutique. The change will take effect July 1, 2014.
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The Co-CEO structure will separate business and investment management functions. This will strengthen and maintain the integrity of our investment team and our investment-centric culture, as well as fortify the business model that supports the continued growth of the organization.
Under the new leadership structure, Mr. Jain will continue his primary duties and responsibilities as Chief Investment Officer. Dr. Hensler will be responsible for all aspects of the business that are not directly related to investment management, including client service, operations and finance, as well as legal and compliance.
Heinrich Schlegel, the long-time CEO of VAMUS, will become Chairman of the Board of Directors. Mr. Schlegel has guided the group through 26 successful years, a period during which assets under management grew from US$150 million to more than US$40 billion.
In addition to his duties and responsibilities as Chairman, Mr. Schlegel will continue to share his extensive industry knowledge for the benefit of other boutiques within the Vontobel Group.
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By GlobalDataAxel Schwarzer, head of Vontobel Asset Management, said: "We believe these appointments promote continuity and stability within the firm. They also broaden the bench of senior management, equipping VAMUS to handle growth and deliver performance for the benefit of our clients. The Co-CEO structure will create the most favorable conditions for the organization to continue on its successful path."
