Veritas
Veritas Asset Management has poached UBS’ Ian Barnes as its chief executive.
Barnes, who is the UK managing director of UBS Global Asset Management, will take on the new role at the £12bn ($15.6bn, €13.9bn) fund house in early 2017.
Veritas said the newly-created position will put Barnes in charge of the day-to-day management of the firm.
Barnes has been head of UK and Ireland for UBS Gam since 2012, responsible for both product innovation and distribution. He previously spent 11 years at Russell Investments.
Principal Global
Tim Stumpff will head up Principal Global Investors Europe division as their new chief executive, the company has confirmed.
Stumpff replaces Nick Lyster, who has assumed the newly created role of global head of wealth advisory services. He joined Principal Financial Group in 2003 and has worked in various leadership roles, first leading the corporate capital markets group and later as part of the senior management of its healthcare business.
Lyster, who will continue to be based in London, will focus on the firm’s Dublin-domiciled Ucits range of funds, having been chief executive of Principal in Europe for ten years.
