Michael Reinhard has decided to step down as chief executive officer at Frankfurt-headquartered Universal Investment Group, a leading management company in Luxembourg. Until a successor is appointed he will be replaced by David Blumer, who joined UI as non-executive chair last year.
The firm, which was the second-biggest AIFM in Luxembourg last year with about 120 billion euro in assets under management, said that Reinhard has decided to step down from his position as CEO of Universal Investment Group as of today “to seek new challenges”.
Blumer is to take on the role of Executive Chairman and lead the company together with the management team that includes Katja Müller as CCO, Frank Eggloff as CRO, Etienne Rougier as COO, and Heiko Laubheimer, who joins as chief financial officer on 1 June.
‘Client focus’
“The recently already expanded management team will seamlessly pursue the company’s successful business strategy and will continue to keep client focus a priority,” said the firm.
Blumer has substantial experience in the fund industry gained in former roles as former Head of EMEA at BlackRock, Chief Investment Officer at Swiss Re and CEO of Credit Suisse Asset Management.
“I have followed Universal Investment Group’s impressive growth for some time now and am looking forward to the challenge of leading the business on an interim basis with its experienced management team,” said Blumer.
Reinhard joined in 2018 as COO and became CEO in 2019. Under his leadership, the company developed its international footprint and became the leading European Management Company with administration capabilities.
Under Reinhard’s tenure, Universal Investment has grown from about 400 billion euro under administration to almost 1,000 billion euro. This was mainly achieved by growing organically and by acquiring Metzler Ireland and European Fund Administration. Michael also played a key role in bringing in CPP as new investors to support the next phase of Universal Investment’s growth.
“We would like to thank Michael for his contribution to the success of Universal Investment Group and wish him all the best for the future,” said Daniel Fischer, Partner at private equity firm Montagu, which owns Universal.
Laubheimer as new CFO
The C-suite of the Universal Investment will be complemented by Heiko Laubheimer resumes the role as new chief financial officer from 1 June. Laubheimer joins from the internationally operating energy service provider G+E Getec Holding, where he most recently held the role of interim CEO in addition to his role as Group CFO.
He started his professional career as a project manager for audit and transaction services at Arthur Andersen in Stuttgart. Further professional stations led him to the Gardena/Husqvarna Group in Ulm, Intersnack and to Bartec Group.