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Rating:The Parent of Two U.S. Fund Firms Restructures Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, May 18, 2016

The Parent of Two U.S. Fund Firms Restructures

News summary by MFWire's editors

The multinational parent of two U.S. mutual fund shops is restructuring.

Makoto Inoue
Orix
Director,?Representative Executive Officer, President and Chief Executive Officer
Yesterday Robeco Group revealed plans to split in two. Robeco Institutional Asset Management (dba "Robeco"), based in Rotterdam, includes both Boston Partners [profile] and Harbor Capital Advisors [profile] here in the U.S.; the other half, Robeco Group (RG), will become a financial holding company.

Hugh Kelly, president of Harbor Funds Distributors, and a spokesman for Boston Partners both declined to comment on Robeco's restructuring.

The restructuring also means that Lein Boeren, vice chairman of Robeco's board for 11 years, will leave after the restructuring transition. The other members of Robeco's executive committee include Ingo Ahrens, Peter Ferket, Roland Toppen, and Karin van Baardwijk. The supervisory board includes chairman Jeroen Kremers, Gihan Ismail, and Jan Nooitegedagt.

Japanese financial services giant Orix Corp bought 90.01 percent of Robeco three years ago from Rabobank. Now Makoto Inoue, president and CEO of Orix, states that "this new structure will allow for this talent [at Robeco] to flourish and help Robeco to further expand on its strong foundation."

As of March, Robeco had 262 billion euros (about $297 billion) in AUM worldwide. 

Edited by: Neil Anderson, Managing Editor


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