GERMANY - Threadneedle Investments has recruited Oliver Roll from German investment consultant FERI as its new head of institutional business for Germany, IPE has learned.
According to industry sources who declined to be named, Roll will join Threadneedle's Frankfurt office from March 1. At FERI, Roll is still employed as a senior consultant, responsible for the banking sector with a particular emphasis on state-owned savings banks (Sparkassen).
As part of his duties, Roll, one of FERI's most senior consultants, offers asset-liability studies to banks. But IPE understands FERI decided to give up the business in early 2006. Two other members of Roll's team are also leaving, the sources added.
In his new role, Roll will report to Rainer Schröder, who joined Threadneedle in July 2005 as its head of German distribution. Schröder was formerly head of German institutional business at Threadneedle rival Invesco.
Neither Threadneedle nor FERI was willing to comment.
Roll's appointment follows Threedneedle's decision a year ago to enter Germany's institutional market. So far, Threadneedle is only known in the German market for its retail business.
The asset manager has not, however, disclosed its fund volumes for Germany.
Meanwhile, former FERI managing director Hartmut Leser has declined to comment to IPE on speculation that he's joining a foreign asset manager.
Leser, who helped to build FERI's consulting business, quit the firm last September after 10 years.
In a recent interview with IPE, Arnd Thorn, chief executive of Feri Institutional Advisors, said to replace lost staff, his firm had added five new consultants, bringing the total number to 25.
Thorn also said FERI planned to hire another two consultants for its co-operation with Heubeck AG, a German pensions and actuarial firm.