German investment company Universal-Investment has promoted chief operating office Michael Reinhard to the role of CEO, as of 1 May.
The Frankfurt-based company said the appointment was part of a number of planned changes to the group’s management. Current CEO Bernd Vorbeck will hand over leadership to Reinhard, but continue advising Universal-Investment on matters of strategy.
Katja Müller, currently member of the management board and head of sales & relationship management, is assuming the newly created post of chief customer officer (CCO). Müller thus joins the C-Board, the highest executive level of the Universal-Investment Group which also includes Vorbeck, Reinhard and chief financial officer Frank Eggloff. The COO role is yet to be filled.
'Our goal is for Universal-Investment to administer more than €500 bn by 2023 and evolve into the largest fund service platform for all asset classes in Europe,' said Reinhard.
'To achieve this, the investment company is stepping up its investments in internationalisation, employees and technologies. For example, 150 additional jobs are currently being created at the new location in Krakow to enable us to recruit additional skilled workers. We have also raised our investments in IT, for example in robot-assisted automation.'
The company said it also intended to actively shape consolidation in the fund industry, either by way of acquisitions or in the form of sourcing solutions for other investment management companies and asset managers.