BMO poaches managing director from GAM

Jürgen FlorackToronto-based BMO Global Asset Management has announced the appointment of Jürgen Florack (pictured) to take over as managing director and head of sales for institutional clients at the firm’s German office.

He succeeds Claus Heidrich in managing the firm’s German client base. Heidrich is retiring after 18 years BMO Global.

Florack joins from troubled Swiss asset manager, GAM – the firm in trouble following the suspension of a bond fund manager.

BMO Global says it has been boosting the German team in order to meet growing demand in the country’s asset management sector. Germany is the third largest funds market in Europe after the UK and France, respectively.

In March it announced three new additions to its responsible investment team in Germany, with the appointment of Nina Roth, Alan Fitzpatrick, and Derek Ip.

Based in Frankfurt, Jurgen will report to Rogier Van Harten.

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