Union Investment CIO equities resigns

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Michael Schmidt (pictured), managing director and CIO Equities at Union Investment has confirmed his resignation by the end of this year.

Schmidt took on the position as CIO Equities and member of the board of directors in 2009, he joined Union Investment from Deutsche Bank, where he most recently worked as managing director and head of portfolio management institutional equity.

Hans Joachim Reinke, chairman of the Supervisory Board of Union Investment Privatfonds GmbH and CEO of Union Asset Management Holding AG comments on Schmidts achievements: “He successfully steered our equity team through both the financial crisis and the euro crisis. What’s more, he has played a crucial role in Union Investment becoming German market leader for sustainable investments and engagement services.”

Until a successor has been found, Björn Jesch, head of Portfolio Management at Union Investment and also a member of the Board of Managing Directors of Union Investment Privatfonds GmbH, will take on the responsibilities of Michael Schmidt alongside his own.

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