Caixabank Asset Management has divided its business in two separate units responsible for investment strategies and products and services, respectively, strengthening the independence between both.
According to the Spanish site FundsPeople the manager's Investment Strategies division, to be led by former investments general director Guillermo Hermida - now appointed Iberia CIO -, gathers various business activities including investment strategies, asset allocation, SRI and innovation. This unit aims at designing an investment strategy for both Spain and Portugal from a common perspective.
The Products & Services unit, led by Jorge Colomer, who was formerly director of the investments solutions unit and has been named now chief of products & services officer, will focus on the implementation of strategic decisions on products.
Both Hermida and Colomer will be reporting directly to the general direction of Caixabank AM and are members of the firm's management board committee alike.
Caixabank Asset Management manages now over €49bn in assets under management and administration.