NETHERLANDS – Robeco Asset Management has scrapped its investment policy committee amid a revamp of management responsibilities.
“After having been in place since 1995, the Investment Policy Committee has ceased to exist,” Robeco said in a newsletter.
“Over the last few years, the responsibility for most investment decisions has been delegated to the investment teams.”
It said that the committee’s responsibilities to ensure consistency and monitor investment style and process have been taken over by the Management Team of Investment and Account Management.
It has set up two new committees covering asset mix and currencies.
Robeco, the asset management arm of Dutch bank, also named Mark van der Kroft as head of the equity investment. He was formerly head of balanced investments and account management. He had been responsible for tactical asset allocation within the investment policy committee.
Van der Kroft joined Robeco in 2000 from ABN Amro, where he was head of research and strategy. He takes over from Mark Glazener, who will now devote his time to the mutual fund Robeco N.V.
Jan Willem Siekman will replace van der Kroft as head of account management.
The various moves follow the appointment of Marnix Vriezen as chief investment officer for Europe in the summer. Vriezen, who replaced Jaap van Duijn, kept his role as managing director of the Robeco Asset Management business unit.