WestLB Mellon Asset Management, a German fund manager partly backed by US bank BNY Mellon, has appointed a new chief executive, charged with expanding the business in retail and institutional markets.

BNY Mellon and German bank WestLB, which together formed WestLB Mellon Asset Management as a joint venture in 2006, announced this morning that the business's new chief executive would be Volker Kurr, formerly of UBS Global Asset Management.

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The announcement comes as USS Investment Management said it won’t bid for the property firm.

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The U.S. private-equity firm said t decided not to begin a tender offer for the Japanese software company after consulting with Fuji Soft founder Hiroshi Nozawa.

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The Chinese technology giant has begun tests to integrate homegrown startup DeepSeek’s AI model into its Weixin messaging app.

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WestLB hires new asset management chief

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