Robeco Group is to separate its activities into a stand-alone money management business with its own supervisory board and executive management team, and a financial holding company.
The new structure will see Robeco Group split into Robeco’s asset management arm, Robeco Institutional Asset Management — to be known as Robeco — and Robeco Group, which will transform from being an operating company into a holding company.
The asset management arm also includes subsidiaries Boston Partners, Harbor Capital Advisors, Transtrend and RobecoSAM.
Robeco Group said in a news release Tuesday that the new structure “reflects current global industry and market trends, guaranteeing continued expertise in investments, distribution and client servicing.”
The transition to the new structure will be led by Leni Boeren, a member of the management board of Robeco Group and chief operating officer, who will leave the firm once the structure is complete.
As part of the new governance structure, David Steyn, CEO and chairman of the management board of Robeco Group; and Bert Bruggink, chairman and member of the supervisory board of Robeco Group, have stepped down and will join Robeco parent company ORIX Group. When asked about the CEO role at Robeco, a spokeswoman for the firm said, “We aim to appoint a chairman of the executive committee of Robeco Institutional Asset Management in the near future.”
The spokeswoman said Messrs. Steyn and Bruggink’s new roles have “not yet been determined.”
Financial holding company Robeco Group will not perform any money management activities. The supervisory board and management board of Robeco will be replaced by a simplified financial holding board chaired by Makoto Inoue, president and CEO of ORIX Corp., subject to final regulatory approval, the news release said.
