Vontobel shares rise after fund manager Jain says to stay
ZURICH, June 19
ZURICH, June 19 (Reuters) - Vontobel Holding shares rose on Thursday after fund manager Rajiv Jain, who runs one of the world's largest emerging-markets funds, said he was committed to the Swiss bank, rebutting speculation he was about to leave.
Vontobel shares, which had shed more than 8 percent earlier this week due to speculation Jain would depart, were up 3.8 percent at 31.25 Swiss francs by 0904 GMT, outpacing a 0.5 percent rise in the wider European sector.
"As Mark Twain said, the rumours of my death are greatly exaggerated," 46-year-old Jain told Reuters in a phone interview on Wednesday. "I think there clearly has been a change in Vontobel New York so I think as a logical fallout of that, people always speculate."
Jain has been appointed co-chief executive of Vontobel's New York-based asset management boutique, sharing the role with former Oppenheimer executive Philipp Hensler. They will replace long-standing CEO Heinrich Schlegel, who is retiring. (Reporting by Katharina Bart and Oliver Hirt in Zurich, with Nishant Kumar in Delhi; Editing by David Holmes)