(February 16 – 15:45 ET) – Amvescap has hired Donald Herrema to develop a global private client business for the firm. Herrema will be the chairman and CEO of a new Private Wealth Management division.

Herrema will be based in New York and is expected to join Amvescap’s executive board. He will have strategic oversight of the worldwide private account activities at Amvescap.

“I am excited about joining Amvescap to build and develop a global private asset management business,” says Herrema. “Given my experience in the wealth management industry, I recognize tht Amvescap has the necessary attributes to accomplish this important initiative: a singular focus on investment management, a global presence and financial strength.”

Herrema began his career at Wells Fargo Bank in the early 1980s and as part of the private banking group served as the first head of their mutual fund division and was president of Wells Fargo Securities. He joined Bessemer Trust in 1993 becoming president and chief executive officer in 1998.
-IE Staff