Beltrán de Lastra has been appointed Chief Investment Officer of Bestinver, Acciona Group’s asset management arm.
He joins from JP Morgan in London, where he managed a portfolio of $13.5bn.
“The appointment of Beltrán de la Lastra and the continuity of the current management team ensures that Bestinver’s funds will continue to be managed under its value-driven investment model and philosophy,” the company said.
“Moreover, de la Lastra’s extensive experience in the sector and performance track record across the funds he has managed, together with an investment philosophy closely aligned with Bestinver’s, provide a solid basis to strengthen Bestinver’s position in the market as a cutting edge independent fund manager.
“De la Lastra’s value-driven investment approach has positioned him as a leading European fund manager, achieving returns of 7.5% during the first half of 2014; 18.1% during last year; and 20.3% during the last three years.”
The Spanish asset manager has also announced that it will start looking at corporate bonds for its investment strategy.
De la Lastra’s appointment follows the departure of Francisco Gracia Parames earlier this month.