UK/EUROPE - Deutsche Asset Management has made former Rothschild Asset Management chief executive Paul Manduca head of its European operations.
The move will be a serious blow to Rothschild, which is currently “examining options” for its asset management business, including a possible alliance with a larger rival.
Manduca helped win £10bn in new institutional mandates during his time at Rothschild and oversaw the relaunch of the firm’s retail brand.
Manduca said: “I am pleased to be joining Deutsche at such an exciting time for the company. The opportunities to continue to grow both the retail and institutional businesses across Europe over the next few years are exceptional.”
Previously Manduca was the chief executive of Threadneedle Asset Management. He oversaw the acquisition of Threadneedle by Zurich Insurance in 1998 and then became head of Scudder Europe.
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