Wells Fargo AM Names New Chief Executive

Tom Burroughes

7 June 2019

has appointed Nico Marais as chief executive and head of Wells Fargo Asset Management, with immediate effect. The asset management arm has $476 billion in AuM, as at end-March this year.

Most recently, Marais was co-CEO of the asset management business and previously was WFAM president and head of multi-asset solutions. He replaces Kristi Mitchem, who left WFAM in January this year, the firm said in a statement. The role is a global one, a spokesperson confirmed to Family Wealth Report.

Joining WFAM in February 2017 from UK-listed Schroders, Marais had been head of multi-asset investments and portfolio solutions. Before that, he was global head of active portfolio management for BlackRock’s multi-asset and client solutions team. Previously, Marais had several leadership roles with Barclays Global Investors, including global head of investment strategy and head of active equity for Europe. He also worked for The World Bank Group as a bond trader and for the South African Reserve Bank as a gold trader.