ABN AMRO Asset Management chooses new leader

Sarah Russell will be promoted to CEO of ABN AMRO Asset Management as part of a group restructuring to enhance midmarket client capabilities, according to a press release. Ms. Russell will replace Huibert Boumeester, current CEO, who will be appointed to the financial institution's managing board in charge of group risk management, corporate development and M&A. The move is part of an overall organizational change aimed at "unbundling" three existing units, including its wholesale clients unit, for which Ms. Russell is CFO. No information on Ms. Russell's replacement was available at press time.