MONEY MANAGEMENT

BayernInvest hires institutional sales director

Nadine Fugert joined money management firm BayernInvest as director for institutional sales, a spokesman said.

The position is new. BayernInvest’s sales team handled client relations with pension funds and insurance companies prior to Ms. Fugert’s appointment. “Within a newly organized sales department, Nadine Fugert is from now on responsible for these clients,” the spokesman said.

Ms. Fugert was a senior client executive at SEB bank in Munich. A spokesman for SEB was not available to comment on Ms. Furgert’s replacement by press time.

BayernInvest has €63.8 billion ($67.2 billion) in assets under management.