Multi-family office HQ Trust is to split its investment advice between two of its managing directors after the departure of its chief investment officer.
Managing directors Fritz Becker and Christian Stadermann will oversee the work of Markus Stadlmann, the former chief investment officer who has left earlier to join Barclays Wealth to head their discretionary investing efforts.
A spokeswoman for HQ Trust said Stadlmann wouldn't be replaced.
HQ Trust, based in Bad Homburg, manages around $15 billion of assets, which are made up of Quandt family money and other ultra-high net worth family money.
The Quandt family own around 45% of German carmaker BMW.
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