Dr Frank Engels to become new head of portfolio management
Frank 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 €60 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.
Frank Engels will succeed Björn Jesch who is to leave the Company at his own request after five successful years. Jesch joined Union Investment Group on 1 September 2012 and assumed responsibility for portfolio management as Managing Director of Union Investment Privatfonds GmbH. He was also a member of the Supervisory Board of Union Investment TFI, S.A., Warsaw, a member of the Administrative Board of Union Investment Luxembourg, S.A., Luxemburg, and a member of the Supervisory Board of Union Investment Austria GmbH, Vienna.
“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.