Reuters logo
Vontobel shares rise after fund manager Jain says to stay
June 19, 2014 / 9:25 AM / 3 years ago

Vontobel shares rise after fund manager Jain says to stay

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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below