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Wells Fargo AM hires BlackRock manager for multi-asset team

Wells Fargo AM hires BlackRock manager for multi-asset team

Wells Fargo Asset Management has hired Kayvan Malek, a former BlackRock director, as a senior portfolio manager in its multi-asset solutions team.

Malek’s responsibilities will include managing real assets and global-return portfolios for retail and institutional clients, according to a Wells Fargo statement.

The incoming manager will report to Nicolaas Marais, president of Wells Fargo Asset Management (WFAM) and head of multi-asset solutions. 

Marais also joined the company recently, having started Feb. 1. He had worked at Schroders for six years and left in June last year amid a reorganization of its multi-asset team.

In his new role, Malek will be based in San Francisco. At BlackRock, he was managing director and head of commodities, volatility, and long-horizon investments within the global markets strategies group. 

‘[Malek’s] experience in commodity and volatility trading will play a crucial role as we continue to strengthen WFAM's focus on multi-asset-class solutions and risk management expertise in product and business development,’ Marais, the multi-asset boss, said in the statement.

The incoming portfolio manager's resume includes a one-year stint as vice president of natural gas trading at Constellation Energy, according to LinkedIn.

He also worked as vice president and head of fixed price and derivatives trading at American Electric Power, and he kicked off his career at Enron in 1997.

Malek's new team manages $31 billion, making it the smallest sector of Wells Fargo Asset Management, which has $481 billion in total AUM.

 

 

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