Francesca McDonagh will join Frankfurt-headquartered Universal Investment Group as its new group chief executive officer from January, the firm has announced. McDonagh, 48, previously served as group chief operating officer at Credit Suisse and as CEO at Bank of Ireland.
She will replace Michael Reinhard, who stepped down as CEO in May with immediate effect. Under his leadership, since 2019, the company developed its international footprint and became a leading European management company with administration capabilities.
David Blumer, having led the business as interim Group CEO for the past five months, will resume his role as chairman from that date. He will support McDonagh and the management team on Universal Investment’s growth journey.
“We are proud to have Francesca, one of the most well-known leaders in European banking, join us as Universal Investment Group’s new CEO, Blumer said in a statement. “With her strong growth and execution track record as well as her client focus, Francesca is the ideal person to lead the next phase of the group’s growth and service evolution. I look forward to supporting her and the management team in driving further internationalisation as well as the ongoing development of our technological and operational capabilities.”
‘Further internationalisation’
In her upcoming role, McDonagh aims to fuel growth via geographical expansion and M&A, mergers and acquisitions. “Further internationalisation will be key to accelerating Universal Investment’s successful growth trajectory, enabling the firm to be an even better partner for its clients within and beyond,” she said.
McDonagh has held various international leadership roles in the financial services sector over the past twenty-five years, focusing on business growth, service, and technology improvement. At Credit Suisse, she spearheaded numerous strategic initiatives and played a pivotal role in the bank’s integration with UBS Group earlier this year.
Before that, she was at the helm as Group CEO of Bank of Ireland, navigating a successful repositioning over a five-year span. During this tenure, McDonagh led two major acquisitions, overhauled the organisation’s culture, enhanced customer service, and pioneered a scalable digital platform. Before her stint at Bank of Ireland, she held key senior management roles at HSBC, notably leading the European retail and wealth management business.
Montagu and CPP Investments
With staunch backing from shareholders Montagu and CPP Investments, Universal Investment sees its future as promising. These shareholders are resolute in propelling the company’s growth trajectory in the imminent years. The company has already showcased robust growth, both organically and via acquisitions. In recent years, this fund service platform amplified its footprint in pivotal European fund domiciles.
With a firm presence in Luxembourg as fund service platforms and Super ManCo, Universal Investment Group boasts assets under administration amounting to 979 billion euro. The firm has roughly two thousand fund and investment mandates and a workforce surpassing 1,700 across cities like Frankfurt am Main, Luxembourg, and London, among others. Incepted in 1968, it offers a service platform for asset managers and institutional investors, providing structuring, administration, and risk management for various investments.
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