Wells Fargo & Co. has appointed Nico Marais aschief executive officer and head of Wells Fargo Asset Management (WFAM), effective immediately.
Marais most recently was co-CEO of WFAM and previously was WFAM president and head of Multi-Asset Solutions. He replaces Kristi Mitchem, who left WFAM in January.
Kirk Hartman, who also was co-CEO of WFAM, will work closely with Marais in his new role. Hartman will continue to serve as chief investment officer and add the role of president of WFAM. Hartman joined WFAM in 2002 and has been an integral part of its leadership as head of the fixed income and equity investment teams.
Marais joined WFAM in February 2017 from Schroders, where he was head of Multi-Asset Investments and Portfolio Solutions. Prior to Schroders, Marais was global head of Active Portfolio Management for BlackRock's Multi-Asset and Client Solutions team. Previously, he held several leadership roles with Barclays Global Investors, including global head of Investment Strategy and head of Active Equity-Europe, and also worked for The World Bank Group as a bond trader and for the South African Reserve Bank as a gold trader.