Asset manager Wellington Management, which oversees more than 1.3 trillion dollars worldwide, has appointed Oliver Schneider as head of its Zurich office. That is according to a statement released on Monday.

Schneider now oversees the firm's business at its Zurich location. His remit covers executing the business priorities, meeting local regulatory requirements, and developing the team.

The position had been held since the Zurich presence was established in 2013 by Jenö Szabo, who left the firm in mid-June for Lombard Odier Investment Managers (finews reported, article in German).

Almost a Decade at the Firm

Schneider has been with Wellington for close to ten years, holding a range of leadership roles along the way. He joined as a managing director in February 2017, most recently serving as head of portfolio advisors for the EMEA, APAC, and Latin America regions.

Before that, the trained economist spent several years at Julius Baer, where he led the investment specialists in the fund business.

Eyeing Swiss Wealth Management

The appointment reflects the «depth of Wellington's local leadership and long-term commitment to developing talent from within», the company writes. It also underscores the firm's continued commitment to Switzerland, «an important market for the firm and its clients across the region».

The house recently flagged its ambition to gain a foothold in Swiss wealth management alongside its established institutional business.