Nuveen made changes to the operations of its multiasset-class solutions team that resulted in the departure of Frank van Etten, executive vice president, CIO and head of solutions, spokeswoman Jessica Greaney confirmed in an email.
"Nuveen made a number of changes to more fully embed the Nuveen solutions team and the portfolio advice they provide into our investment capabilities," Ms. Greaney said.
Nathan S. Shetty, head of the firm's multiasset-class portfolio management team, now works more closely with the team running Nuveen's broader investment platform and reports to William T. Huffman, executive vice president, president of Nuveen Asset Management, and head of fixed income and equity.
Hans Erickson, head of portfolio management for Nuveen's life-cycle and target-date funds, also works with Mr. Huffman's team and reports to Saira Malik, senior managing director, CIO and head of global head of equities.
Messrs. Shetty and Erickson continue to manage multiasset portfolios and now "collaborate closely with Nuveen investment teams to help large pension funds, insurance companies and other … clients solve their most complex investment needs," Ms. Greaney said.
Previously, Messrs. Shetty and Erickson reported to Mr. Van Etten, who left Nuveen in March. His duties have been assumed by others on the multiasset solutions team, Ms. Greaney said.
Mr. Van Etten could not be reached to learn more about his plans.
As of March 31, Nuveen managed a total of $1 trillion.
