GERMANY - Fidelity’s German arm has recruited Hans-Jörg Frantzmann from a Frankfurt-based asset manager as its new head of institutional sales, effective January 1.

Frantzmann, 48, is currently a managing director at Frankfurt Trust, the asset manager for German private bank BHF - where he is responsible for institutional clients and fund administration.

Fidelity said that in his new role, Frantzmann would take responsibility for acquiring and advising institutional clients. He will report to Klaus Mössle, who joined Fidelity in mid-2004 from Deutsche Asset Management to build its institutional business in the German-speaking regions.

“There are very attractive growth opportunities in Germany’s institutional market. We’re delighted that we have been able to hire such a renowned colleague with a wealth of market and client experience,” Mössle said of Frantzmann.

News of Frantzmann’s appointment comes almost two months after Fidelity hired Christof Quiring from rival Invesco as its new head of pensions sales. Quiring and Frantzmann are part of Mössle’s team.

In hiring the two well-known industry figures, Fidelity hopes to invigorate its German institutional business, which - contrary to Mössle’s initial projections of between 20%-30% annual growth - has seen scant growth.

As of September 30, Fidelity had €1.6bn in institutional assets under management in Germany - an increase of just €100m from the end of 2005. Including Austria, Fidelity runs €1.98bn in institutional assets.

Commenting on the growth of Fidelity’s institutional business, Mössle has previously told IPE: “Sure there was stagnation on the institutional side in 2005, but you have to understand that this (the building of the business) is a long-term project.”

Based in the Frankfurt suburb of Kronberg, Fidelity also manages €14.4bn in assets for retail clients, making it one of the biggest foreign asset managers in Germany.

Separately, Switzerland’s Fisch Asset Management, a specialist in convertible bonds, said it had hired Martin Kühle as a new director of institutional sales and relationship management for Germany and Austria.

Kühle joins Fisch from Deutsche Bank in London. He will work alongside Maria Vogt, who is Fisch’s director of institutional sales and relationship management for Germany only.

Based in Zurich, Fisch has €4bn in assets under management.

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