Rajiv Jain and Philipp Hensler were named co-CEOs of Vontobel Asset Management, said spokeswoman Catherine Koch.
Beginning July 1, they will replace Heinrich Schlegel, who will become chairman of the board of directors.
The co-CEO structure will separate business and investment management functions. Mr. Jain will oversee the investment management functions, while Mr. Hensler will be responsible for all other aspects of the business, including client service, operations and finance, legal and compliance. They will report directly to the board of directors and Axel Schwarzer, head of Vontobel Asset Management.
Mr. Jain was chief investment officer of Vontobel, while Mr. Hensler was CEO of OppenheimerFunds Distributor. Mr. Jain will retain his primary duties and responsibilities as CIO. John McDonough replaced Mr. Hensler at OppenheimerFunds on Jan. 1.