The star asset manager behind much of Vontobel's growth in asset management in recent years has revealed his next step after leaving the Swiss bank in March.
Rajiv Jain, Vontobel's best-paid banker and responsible for a large part of its heady growth in asset management in recent years, Jain has surfaced again.
The Florida-based fund manager is setting up GQG Partners, a long-only equities fund for emerging and global markets based in Fort Lauderdale, a spokesman said. This mirrors Jain's specialty at Vontobel, where he was a well-known fund manager for emerging stocks.
Vontobel Hit By Exit
News of his departure after 20 years at Vontobel caused a major drop in the bank's stock in March on fears -- not unfounded -- that Jain would take a large portion of the $48 billion managed by him.
Jain's newly set-up GQG will partner with Pacific Current Group, or PCG, an Australian asset manager. PCG's former chief executive, Tim Carver, will take on the same role at GQG, while Jain will be chairman and investment chief. PCG and GQG plan to partner, the firms said.
