Michael Schütt to leave Carmignac

Michael Schütt (pictured), head of Germany and Austria at French asset manager Carmignac Gestion is set to leave the business with immediate effect.

Schütt, who joined the group in 2014, is set to take on a new role and will be replaced by Frank Rüttenauer on an ad interim basis, German fund magazine Das Investment reported today.

A spokesperson for Carmignac confirmed to InvestmentEurope that the permanent replacement for Schütt is not official yet and will be announced in due course.

Prior to joining Carmignac Gestion, Schütt spent more than three years at BNY Mellon as head of Wholesale Germany and at WestLB, which was acquired by BNY Mellon in 2012.

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