SEB Asset Management is planning to centralise its multi-management activity in Stockholm as a result of the departure of its Frankfurt-based fund selection team, Citywire Global can reveal.
Following the departure of Jens Kummer and Damian Krzizok on Thursday, who were part of the firm’s three-person strong fund selection team in Frankfurt, Citywire Global understands that the final member of the selection trio, Andreas Bichler, will also be leaving SEB at the beginning of January.
The Swedish firm's multi-management activity and funds will now be managed by a team led by Mårten Gabrielsson, CIO of the firm's multi-management team in Stockholm.
‘We are centralizing the multi-management capabilities as much as possible in order to create one centre of excellence with the maximum resources possible,’ Gabrielsson told Citywire Global on Friday.
'The German team have left/will leave and the portfolios will be managed by my team going forward.'
Having previously been head of the multi-management operation at SEB Invest, Kummer returned five years ago to the firm after a stint at Cominvest.
Andreas Bichler was also recruited from BHF Trust in 2008 to form the firm's multi-asset fund selection team with Krzizok which ran around ten funds.