Wells Fargo Asset Management has hired Schroders’ former head of multi-asset investments in a bid to bolster its own multi-asset efforts.
Nicolaas Marais, who was head of multi-asset investments for over six years at Schroders, will join San Francisco-based Wells on February 1.
He left Schroders in June last year as a part of a reorganization which saw the firm split its multi-asset division into two units, dynamic asset allocation and portfolio construction.
At Wells Marais will take on a broad range of responsibilities including multi-asset class solutions, research, and product management. He will report to Kristi Mitchem, chief executive officer and head of Wells Fargo Asset Management.
He joined Schroders in 2011 and prior to this he was global head of active portfolio management at BlackRock, within the firm's multi asset and client solutions team, where he had responsibility for portfolio management, research, and investment strategy.
Mitchem said Marais would be involved in product development and supplying insight to meet new demand across asset classes, geographies and even fund types.
‘Given his impressive and complementary investment management experience, Nico is ideally qualified to lead the development and management of strong multi-asset class solutions for our clients,’ he said.