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.”
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.