Dr Frank Engels (pictured), is to take over as Union Investment’s head of portfolio management from 1 January 2018. He will succeed Björn Jesch who is leaving Union Investment at the end of the year for personal reasons.
“We are pleased to have found such an experienced and respected expert from inside the company to fill this role. With his proven expertise and long track record, Frank Engels will be able to take our Company’s successful investment strategy forward,” says Jens Wilhelm, member of the Union Investment Board of Managing Directors with responsibility for portfolio management and real estate business.
Engels will lead a 285-strong fund management team and will be responsible for strategy for investments totalling around EUR267 billion.
Engels, 49, joined Union Investment Privatfonds GmbH as managing director in January 2012 and was responsible in this role for heading up the fixed-income fund management business, with assets under management totalling around EUR60 billion. He was appointed to the Board of Managing Directors of Union Investment Privatfonds GmbH on 1 August 2014. Since the beginning of 2017, he has been responsible for the multi-asset business within portfolio management which he will lead further on. Prior to joining Union Investment, Engels worked for organisations including the IMF and Barclays Capital.
“We would like to thank Björn Jesch for the pleasant and constructive working relationship. He enjoys our utmost respect and we appreciate all his many achievements over the past five years. We are very sorry that he has decided to leave the Company but wish him all the best for the future, both professionally and personally,” says Wilhelm.