In September, Michael Schutt will become head of country for Germany and Austria at the European asset manager following the resignation of Kai Volkmann earlier this year.
Schutt has 27 years of experience in the financial services industry and has previously held senior roles at Bank of New York, Invesco Asset Management and Merrill Lynch.
Roland Schmidt will also join the company as head of wholesale business development for Germany and Austria in July. He has 15 years’ experience in asset management and was previously head of sales at M&G International.
Additionally, Frank Ruttenauer has been hired as head of retail business development. Ruttenauer has worked at Carmignac for seven years and has 15 years’ experience in the financial services industry.
Carmignac’s global head of sales, Davide Fregonese, said: “Our growth in Germany and Austria, and their strategic weight, has lead us to tailor our local organisation and to put in place a dedicated wholesale and retail division aimed at further supporting our local distributors and partners.”
In another boost to its European presence, Carmignac added two staff to its Italian team last February. Michele Scolletta joined as business relationship director from Eurizon Capital and Zaccarria Al Jundi moved from Eurizon Capital to become business relationship executive.
Founded in 1989, Carmignac Gestion Group operates in France, Luxembourg, Germany, Italy, Spain and the UK. It has been present in Germany for nine years with a local office in Frankfurt since 2012 and a six person team dedicated to German and Austrian distributors.
