mast image

Special Report

Impact investing

Sections

Fortis Investments names Rake as COO

BELGIUM - Fortis Investments, the asset management arm of the Fortis group, has nabbed Deutsche Asset Management's Keith Rake to become its new chief operating officer and member of the executive committee.

Rake will relieve chief executive Richard Wohanka from leading the firm's global operational infrastructure development, a task which he took over from previous COO Jean-Philippe Bailly, who left Fortis last year to join a Luxembourg-based asset management firm.

Previously managing director and chief investment officers for technology and operations at Deutsche AM, Rake takes up his position at Fortis from November 2.

Wohanka commented that the firm's increasing commercial and technical requirements created the need to bring in a "seasoned individual" as COO; the firm did not find someone suitable until coming across Rake, as spokeswoman confirmed.

The news comes amid the firm's announcement late last week that it has entered into an agreement to establish a Russian asset management joint venture with Russian firm CIT Finance Asset Management Company.

The aim of CIT Fortis Investments is "to offer both Russian and international clients investment management products in Russia and the CIS markets".

Fortis, with €111bn of assets under management, said that AO CIT Finance, a Kazakhstan-based asset management firm is also part of the joint-venture agreement.

The joint venture, in which both firms will own equal share and will co-manage the company, is expected to be completed by the end of this year, and will initially consist of 55 employees.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Here
<