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MONEY MANAGEMENT

Wells Fargo Asset Management hires president, head of multiasset class solutions

Nicolaas Marais
Nicolaas Marais

Nicolaas Marais was named president and head of multiasset class solutions and product research and development at Wells Fargo Asset Management, confirmed spokesman Pete Greenley in a telephone call.

The position is new. He is scheduled to start on Feb. 1. Mr. Marais will develop investment strategies across asset classes, “blending the fundamental and quantitative investment specialties we have on our team,” according to a news release.

In October, Wells Fargo completed the acquisition of Los Angeles-based Analytic Investors, a quantitative equity firm with a $15 billion in assets under management.

Analytic Investors will be a part of the suite of multiasset-class solutions, Mr. Greenley said, but the focus of Mr. Marais’ group will be “providing exposures across asset classes and blending fundamental and quantitative insights from the full range of portfolio management teams at Wells Fargo Asset Management.”

Mr. Marais will report to Kristi Mitchem, president, CEO and head of Well Fargo Asset Management.

Mr. Marais was head of multiasset investments and portfolio solutions at Schroders. He left the London-based manager in June after the company split up its multiasset investments and portfolio solutions business into two. A spokeswoman said at the time that he would not be replaced.

Wells Fargo has about $480 billion in AUM.