Norwegian asset manager Skagen has strengthened its local presence in Germany and appointed Josef Scarfone as managing director.
In his new position, Scarfone is responsible for further development and strengthening of the business fundamentals for the investment solutions of the associated Skagen funds and Storebrand funds, both in the wholesale and institutional areas.
Activities in Germany will start as soon as the relevant regulatory requirements are met, which is expected to be later this year.
Prior to joining Skagen, Scarfone has worked at US investment company Lazard Asset Management, where he was responsible for the wholesale business in Germany and Austria as head of Third Party Distribution. Previously, he served for more than ten years as head of Wholesale and two years as co-head of sales at Frankfurt Trust Investment.