Managing Director in Germany
SKAGEN Funds to increase focus on the German market with the hiring of Josef Scarfone as Managing Director.
Josef Scarfone had been appointed Managing Director SKAGEN Funds Germany with the mandate to develop the local presence of the Norwegian fund manager. Activities in Germany will commence as soon as the relevant regulatory authorisations are in place, which is expected to be by the end of the year.
In his new function, Josef Scarfone (48) will further develop and strengthen the business activities towards the wholesale and institutional segments for both SKAGEN’s equity funds and the associated products and investment solutions of Storebrand Funds.
Tim Warrington, CEO of SKAGEN Funds, comments:
"The appointment of a Managing Director in Germany underlines both the increased business volume and the strategic importance of the local market for us. We are therefore delighted that Josef Scarfone, with his long industry experience and broad network, has accepted the position."
Scarfone worked previously at Frankfurt Trust Investment where he was employed for more than ten years as Head of Wholesale and for two years as Co-Head of Sales. In 2014, Scarfone, who is a qualified equity analyst and portfolio manager, moved to the US investment company Lazard Asset Management. In his position as Head of Third Party Distribution he was responsible for the Wholesale business in both Germany and Austria.
Josef Scarfone, Managing Director of SKAGEN Funds Germany, comments on his new position:
"I'm really looking forward to my new challenge. I am convinced that both the actively managed equity funds of SKAGEN Funds and the multifactor and ESG-based solutions of Strorebrand Funds will attract considerable interest in the German market. Credibility and long experience are especially important when it comes to ESG and impact investing. Both SKAGEN and Storebrand Funds are pioneers in this field, with over 20 years of track record. We are strongly committed to the principles of sustainable investment and have for a long time been one of the leading asset managers within sustainability in Northern Europe. We want to exploit the steadily growing demand for ESG solutions in Germany."