Spain’s Bestinver has appointed Ricardo Cañete as head of Spanish Equities, according to local trade press reports.
Cañete joins from Mutuactivos, where he was head of Equities. Cañete will report to de la Lastra. The manager has been head of Equities in Mutuactivos since 2010, after working for the firm since 2004.
According to Bestinver’s reports, Cañete was responsible of an investment strategy that returned 113.4% profitability since 2009, 20 points above the Ibex-35, dividends included.
Prior to working for Mutuactivos, Cañete was equity manager at Popular Gestión, where he managed the Eurovalor Bolsa Española fund.
According to the Spanish press, Bestinver’s recruitment process will continue with more hires to be announced in the following weeks, with the aim of completing the team by the end of this year.