Wells Fargo & Co. has announced that 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.”
“I am excited and honored by the opportunity to help lead WFAM into the future,” said Marais. “The experience and talent at our firm is second to none, and I look forward to working with all of our amazing team members to do even more for our clients.”
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. WFAM is focused on partnering with its clients to solve their problems and help them reach their financial objectives.
Marais joined WFAM in February 2017 from Schroders, where he was head of Multi-Asset Investments and Portfolio Solutions. Prior to Schroders, Marais was global head of Active Portfolio Management for BlackRock’s Multi-Asset and Client Solutions team. Previously, he held several leadership roles with Barclays Global Investors, including global head of Investment Strategy and head of Active Equity-Europe, and also worked for The World Bank Group as a bond trader and for the South African Reserve Bank as a gold trader.
Marais holds a doctorate of commerce in economics from the University of South Africa. He earned master’s and bachelor’s degrees from Stellenbosch University, South Africa, and an advanced diploma in international economic policy research from the Kiel Institute for the World Economy in Germany. He also is a Chartered Financial Analyst.®
