Wells Fargo & Co. today announced that Nico Marais has been appointed chief executive officer and head of Wells Fargo Asset Management (WFAM), effective immediately.
Marais most recently was co-CEO of WFAM and previously was WFAM president and head of Multi-Asset Solutions. He replaces Kristi Mitchem, who left WFAM in January.
"We have an outstanding team at WFAM, and I am confident that Nico is the right leader to take the business forward as it continues to grow and serve as a true partner to our clients," said Jonathan Weiss, head of Wealth & Investment Management at Wells Fargo. "WFAM is a key part of our overall strategy, and the business has a long track record of delivering innovative solutions and ideas to help our clients achieve their financial goals."
"I am excited and honored by the opportunity to help lead WFAM into the future," said Marais. "The experience and talent at our firm is second to none, and I look forward to working with all of our amazing team members to do even more for our clients."
Kirk Hartman, who also was co-CEO of WFAM, will work closely with Marais in his new role. Hartman will continue to serve as chief investment officer and add the role of president of WFAM. Hartman joined WFAM in 2002 and has been an integral part of its leadership as head of the fixed income and equity investment teams.
WFAM oversees $476 billion in assets under management* for a broad range of clients, including investment professionals and institutional and individual investors. WFAM is focused on partnering with its clients to solve their problems and help them reach their financial objectives.
Marais joined WFAM in February 2017 fromSchroders, where he was head of Multi-Asset Investments and Portfolio Solutions. Prior to Schroders, Marais was global head of Active Portfolio Management for BlackRock's Multi-Asset and Client Solutions team. Previously, he held several leadership roles with Barclays Global Investors, including global head of Investment Strategy and head of Active Equity-Europe, and also worked for The World Bank Group as a bond trader and for the South African Reserve Bank as a gold trader.
Marais holds a doctorate of commerce in economics from the University of South Africa. He earned master's and bachelor's degrees from Stellenbosch University, South Africa, and an advanced diploma in international economic policy research from the Kiel Institute for the World Economy in Germany. He also is a Chartered Financial Analyst.(R)
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo's vision is to satisfy our customers' financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,700 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 262,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune's 2018 rankings of America's largest corporations. 403054 06-19
*As of March 31, 2019
Wells Fargo Asset Management (WFAM) is the trade name for certain investment advisory/management firms owned by Wells Fargo & Company. These firms include but are not limited to Wells Capital Management Incorporated and Wells Fargo Funds Management, LLC. Certain products managed by WFAM entities are distributed by Wells Fargo Funds Distributor, LLC (a broker-dealer and Member FINRA). Associated with WFAM is Galliard Capital Management, Inc. (an investment advisor that is not part of the WFAM trade name/GIPS firm). www.wellsfargoassetmanagement.com
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SOURCE: Wells Fargo & Company
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