Investment Officer

Paris-based asset manager Carmignac has announced a series of new appointments to bolster its Patrimoine fund, which has a substantial Luxembourg component.

Guillaume Rigeade, Eliezer Ben Zimra, Jacques Hirsch and Christophe Moulin are stepping in as co-managers of Carmignac Patrimoine, joining forces with David Older, the firm’s head of equities. This move follows the recent elevation of Rose Ouahba (photo) to the position of managing director within the firm’s senior management team.

Key players in the Luxembourg financial industry’s effort to prioritise green goals are simultaneously ensuring that oil & gas companies can continue to warm the planet, in some cases until late this century, according to a news investigation by the Luxembourger Wort daily and the Luxembourg Times.

Blackstone, the world’s largest alternative asset manager, has transitioned its Luxembourg offices to a more expansive space in the Vertigo Polaris Building, demonstrating a solid commitment to its European operations in the Grand Duchy. The inauguration of the new location was marked by a special event on Wednesday, graced by the presence of Luxembourg’s Prime Minister, Xavier Bettel, and Blackstone’s CFO, Michael Chae.

Despite growing optimism about investment conditions, the latest Goldman Sachs Asset Management survey indicates that a majority of investors still view private equity as too expensive.

The traditional portfolio manager, meticulously sifting through a hefty stack of research and diligently inputting annual reports into a valuation model, seems to be a fading image from the past. For banks and asset managers to stand out, they must wholeheartedly adopt artificial intelligence, posits Gerben de Zwart of APG, one of Europe’s largest asset managers, overseeing approximately 541 billion euros for Dutch pensioners.

Inflation concerns continue to shape market predictions. “For three months, we witnessed impressive figures, but then oil prices spiked unexpectedly. This isn’t a fleeting issue,” commented Mary Pieterse-Bloem, chief investment officer of Rabobank, in the CIO Debate at Investment Officer’s 16th Fondsevent conference in the Netherlands on Monday.

Anna Zakrzewski has been appointed as the new Group Chief Operating Officer at Quintet Private Bank, headquartered in Luxembourg and active across Europe and the UK. Zakrzewski will take over from Eli Leenaars, who plans to retire at the end of the year. Her role will also extend to the authorized management committee, pending regulatory clearance.

DWS, the asset management subsidiary of Deutsche Bank, finds itself in hot water with the Securities and Exchange Commission (SEC). The investment management giant has been charged on two fronts: making misleading claims about its Environmental, Social, and Governance (ESG) investment practices and lacking a robust Anti-Money Laundering (AML) framework. To settle these charges, DWS will be parting with 25 million dollars in penalties.

In the world of technology and innovation, few names command as much respect as Geoffrey Hinton, often dubbed the “Godfather of AI.” However, recent remarks from this AI luminary have sparked a heated debate on the role of artificial intelligence in our society. Monday’s FondsEvent conference by Investment Officer delved into the heart of this debate.

This week’s overview of transfers and appointments includes appointments at Apex Group and at EY.

Stephen Geddes

Stephen Geddes (photo) has been appointed as regional head for the United Kingdom at global asset services provider Apex Group.  He joined Apex from Mainspring Fund Services, where he was the founder and CEO. Apex acquired Mainspring in September last year.