Dr Seibold Capital, the German independent wealth manager, has hired a distribution specialist and fund manager from Bank Vontobel.

Claus Sendelbach joins with immediate effect, the firm said. He will join the firm's management, bringing with him more than 20 years of industry experience.

He has been with Bank Vontobel since 2006, where he was responsible for fund distribution to institutional clients in Germany and Luxembourg. Sendelbach’s career also included senior positions at Credit Suisse Asset Management, Commerzbank and DekaBank.

At Seibold, he will be responsible for the distribution of the entire wealth management business, which includes the dealing with private clients, wealth managers, family offices and instiututional clients.

The firm currently employs 35 staff and manages €750 million (about $956 million) in client assets.