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Nigel Bolton has joined Scottish Widows Investment Partnership as
head of European equities. Bolton, who will report to CIO equities,
Graham Wood, was previously head of European investment at WP
Stewart.
Yuktai Chan joins Threadneedle's Asia equity desk to run
institutional money. Chan joins from British Airways Pension Fund
and replaces Kirsteen Jessop who is stepping out of the industry. In
another addition at Threadneedle, fund manager Ed Gaunt joins the
Japanese team from American Express as part of the group's
assumption of responsibility for parent company Amex's fund
management.
Michael Gifford has been hired by Isis Asset Management to manage
its UK Equity Income, UK Growth and Income & Managed Distribution
funds. Gifford from Canada Life, will take over from Rodger McNair
who will focus on his core role of overseeing the UK specialist
equity team.
Tim McCarron is relinquishing the UK mandates he runs for Fidelity
to focus on managing the flagship European and European Values
vehicles. Responsibility for the group’s Income Plus fund will pass
to John Stavis, who also manages the Fidelity Growth & Income fund,
from 1 January 2004.Stavis will also take over stock selection for
the UK equity portion of Fidelity Moneybuilder Balanced, which
McCarron has run since May1997, from the New Year.
Former Invesco manager Masato Kawada has joined BDT Invest to run a
Japanese Smaller Companies fund set to launch in January 2004.The
BDT Invest Japanese Smaller Companies portfolio will be the second
sub-fund of the group's Dublin-domiciled Oeic, offering retail and
institutional share classes and four currency classes. Kawada will
operate out of Asian equity specialist BDT’s newly established Tokyo
office, joining a team consisting of BDTco-founder Simon Dobson and
former Invesco GT Japan chief investment officer Andrew Callender.
Gil Knight, the manager of the outsourced Gartmore Govett US
Opportunities fund is to join Gartmore on a permanent basis. Knight
is currently based in Baltimore with MTB Investment Advisors and
will move to Gartmore's US offices outside Philadelphia later this
month.
Japan fund manager Kerry Goh is to join his former Govett colleague
Christian Dangerfield at F&C early next year. It is not yet decided
what Goh will be running but he will be working with and reporting
to Dangerfield.
Scottish Widows Investment Partnership has reportedly appointed
former Edinburgh Fund Manager's David Keir to its UK Equity team.
Derek Lygo has left First State Investments and Adam White will take
over management of the British Opportunities fund with immediate
effect. White will report to head of pan-European equities John
Ewart.
Aisling O' Reilly has been appointed as derivatives manager at
Gartmore, reporting to chief operating officer Barry Marshall. Toby
Clark also joins the team as a derivatives analyst.
Management of the New Star Equity Income fund is passing from Toby
Thompson to Tim Bray, currently manager of New Star's UK Dynamic
fund. Thompson will focus on managing the New Star Higher Income
portfolio and the equity portion of the group's Distribution fund.
AXA Investment Managers have appointed a new specialist team to
manage its Global High Income fund by combining their US and
European high yield operations. The fund will be managed by Stuart
Stanley in Paris and Tom Kelleher in the US.
Neil Sutherland has been named as the manager of AXA Investment
Managers soon to be launched Corporate Bond fund. Sutherland
currently runs the fixed interest element of the AXA Extra Income
fund and will take up management of the Corporate Bond fund when it
launches at the end of January.
Former Insight Asset Management retail chief investment officer (CIO)
and co-head of equities, David Kiddie, is joining Baring Asset
Management on 1 December as director of investment process. Kiddie
takes over the position from Don Walker, who is retiring at the end
of December.
Morley's David Lis, is handing the management of Norwich Union's UK
Equity fund over to his colleague Mervyn Douglas. Lis will not be
leaving Morley but is understood to be concentrating on managing the
Norwich Union UK Growth fund and the Morley UK Focus fund.
Nigel Ridge is leaving Legal & General, only a few months after
joining its UK equity team, to join the institutional high
performance team at Merrill Lynch Investment Management. Ridge
originally joined Legal & General to take over the management of the
Recovery fund from Tim Mann, who will now resume that role.
James Thomson has been made co-manager of the Rathbone Global
Companies and Technology funds. Thomson's promotion appears to be
part of a long term plan to replace Hugh Priestley who is working a
few days a week in semi retirement. Thomson will work in partnership
with Julian Chillingworth.
Stephen Snowden, manager of the Aegon Extra Income and Optimum
Income funds, has resigned to join Old Mutual Asset Management.
Snowden is expected to start at Old Mutual in early January and will
take over running its Corporate Bond, previously managed by Richard
Woolnough, who is leaving the group to join M&G. Philip Milburn, the
number two manager on both Aegon funds, will take over as interim
manager on the Extra Income portfolio with immediate effect, as well
as becoming full-time manager of the Optimum Income fund.
Standard Bank has recruited Invesco Perpetual's emerging market bond
team, headed up by John Cleary. The full team comprises Cleary,
Simon Lue_Fong and Jonathan Mann and they will all move across to
run Standard Bank's money in this class. While at Invesco, Cleary
was the named manager on the GT Emerging Market Bond and GT Global
High income fund.
Errol Francis is leaving Barings to join Credit Suisse Asset
Management (CSAM). While at Barings, Francis took over the
management of the UK Growth & UK Equity funds following the
departure of Richard Buxton to Schroders in 2002. He will start work
for CSAM in 2004 although the UK equity fund he will be managing has
not been named yet.
Christian Dangerfield is leaving Govett Investments to take over as
lead fund manager on Foreign &Colonial’s Pacific Investment Trust on
17 November. In his role at the group, he will also head F&C’s
Pacific desk and report to the head of emerging markets Humphrey
Carey.
Felix Wintle has been appointed manager of City Financial’s Ethical
and International funds and joint manager with Derek Bartlett of its
Biotech and Managed Portfolio funds.
Rich Thompson has joined Fidelity's London office as head of the Pan
European small-cap team.
Aegon Asset Management's head of fixed income Malcolm Jones has
moved to Standard Life Investments' institutional business where he
will be responsible for developing and marketing fixed income
products across institutional and retail funds.
It is reported that Katherine Garrett-Cox will join Morley Fund
Management as chief investment officer early in 2004 in order to
replace the current incumbent Gerry Holtham, who is retiring. This
follows Garrett-Cox's decision not to return to Aberdeen following
her maternity leave. Her place at Aberdeen will be filled by joint
managing director of Edinburgh Fund Managers, Anne Richards.
Baring Asset Management (BAM) has appointed Ece Ugurtas to its fixed
interest team to help run global high yield and emerging debt
portfolios. Ugurtus, who joins BAM as a director, was previously at
M&G. She will report to Marino Valensise, head of fixed income and
currencies.
Scottish Widows Investment Partnership (Swip) has made a number of
appointments to its UK equity team. David Urch joins from Martin
Currie while Joel Marks joins from Insight Investment. Both will
report to Robert Waugh, the new head of UK equities at Swip.
Mark Denham joins Morley Fund Management as a European equities fund
manager. Denham was previously at Insight Investment where he was
director of European equities.
Anna Griffin (nee Lees-Jones) has left M&G group. Management of the
M&G Corporate Bond fund will be taken over by Richard Woolnough when
he joins the group at the end of the year. Interim management will
be by M&G's head of fixed interest Jim Leaviss.
Neil Gregson is to become head of emerging market equities at Credit
Suisse Asset Management. He will be responsible for CSAM’s emerging
equity products in terms of performance, growing assets and
investment process. Gregson will retain his position as manager of
the group’s European Frontiers fund.
Geoff Lunt joins HSBC Asset Management from Investec Asset
Management. Lunt will be a senior fund manager in HSBC's UK fixed
income team.
Threadneedle has announced a number of changes to fund manager
roles. Dominic Rossi is to step down from running the Latin American
Growth portfolio in order to focus on segregated mandates.
Management of the fund will be taken over by Jules Mort, Rossi's
assistant for the last two years, with Rossi becoming deputy
manager. Management of the Global Select Growth fund is also
changing, with chief investment officer Sarah Arkle handing control
to Jeremy Podger. Andrew Holliman joins from Baillie Gifford where
he was investment manager for North America. Ed Gaunt joins the
Japanese team from American Express and Mike Corcell moves to the US
team from Karsch Capital.
Ken Cox will be the new manager of the Templeton Global (Euro) Fund
SICAV at Franklin Templeton. He takes over from George Ritchie who
has managed the fund for some three years. The move is part of a
strategy that will allow Cox to focus on retail funds while Ritchie
concentrates on institutional management.
Newton announces that Glenn Pratt will take over management of its
Income fund from John Wood, effective from 01 December 2003. Pratt
has been alternate manager on the portfolio and lead manager on the
Growth fund since joining from Fidelity in January. Wood stays as
manager of the UK Opportunities fund.
Paul Griffiths is leaving Investec to become chief investment
officer at Axa Investment Managers. Griffiths was responsible for
leading the investment process on all fixed income products. His
role at Axa will be a business one involving overseeing Axa's
investment teams amongst other duties. He will assume the position
sometime in early 2004 and takes over from Roy Gibson who left in
December 2002.
Norbert Beiner is named as manager of the Credit Suisse Asset
Management European fund. Beiner, who is the fourth manager of the
fund in less than 2 years, takes over from Adam Holmes who left to
join Legal & General in September. Beiner joins Credit Suisse as
head of European equities from Zurich based Julius Baer Asset
Management.
Gavin Brown has left his position of UK Equity fund manager at Old
Mutual to become head of research at Northern Trust. This follows
the departure of Richard Woolnough some months ago. Old Mutual have
stated that both managers will not be replaced by single
individuals, but that their respective teams will be strengthened by
the addition of a number of managers.
Fidelity has changed the manager of its Managed International fund.
Global Focus fund manager Brenda Reed assumes responsibility on 01
November from Dick Haberman who continues to be responsible for
Fidelity's International fund.
David Buckle has joined Merrill Lynch Investment Managers as a
director on its fixed income team. His responsibilities will cover
currency management across MLIM's global bond portfolios.
Insight Investment is altering its fund of funds process and has
hired two more managers from UBS. The group is to split out its
research and portfolio construction process on its multimanager
operation following the departure of Bambos Hambi and his team.
Eugen Fostiak joins as deputy director of strategy portfolio and
construction and Francois Zagame as deputy director of fund
selection.
Adrian Gosden has joined Artemis where he will work with Adrian
Frost managing income funds. In particular he will focus on the
Artemis Income and High Income funds providing an additional
management resource. Gosden joins from SG Asset Management where he
was UK equity manager responsible for the UK Income fund as well as
institutional and charity mandates.
Martin Cobb will be the manager of the soon to be launched Franklin
Templeton UK Equity Income fund. Cobb will join Franklin Templeton
in December from SVM where he was on the UK equity team.
Neil Birrell, chief investment officer at Framlington, is leaving
the company after eight years. He is understood to be taking a
career break and not joining a competitor. His role as chief
investment officer will be taken over by Peter Chambers, the chief
executive recently recruited from Gartmore, until a suitable
replacement is appointed.
Simon Turner joins Morley as a fund manager with responsibility for
pan-European smaller companies. He joins from Singer & Friedlander
where he occupied the same position.
Insight Investment has hired two managers from UBS to run its fund
of funds service from January in a move to replace Bambos Hambi and
team who, as previously reported, are moving to Gartmore. Patrick
Armstrong and Ana Cukic-Munro are heads of fund and manager
selection and portfolio construction in the UBS Wealth Management
Service respectively.
Alix Stewart is to quit Standard Life Investments to join Gartmore
to manage its retail corporate bond fund range. She replaces Paul
Grainger who left to join Foreign & Colonial in July. Stewart will
become lead manager on the Gartmore Corporate Bond, CFS Sterling
Bond & High Yield Corporate Bond funds.
Baillie Gifford has made a number of changes within its investment
team. Angus Franklin moves from the UK mid/small cap team to the
Continental European mid cap team. The named manager of the Shin
Nippon Investment Trust and Japanese Smaller Companies fund will
change from Mark Urquhart to Alistair Way. Gordon Brown will be the
sole manager of the Gilt fund. Olaf Meiter, currently on the
Continental Europe mid cap team is to leave the company, whilst
fixed income manager Ewan McLean will remain with the company but
not in the role of an investment professional. All changes take
effect from October 1st.
Legal & General has made two new appointments to its active equity
team. Ashley Reid joins as a senior manager of the UK equity team
from Lombard Odier. Adam Holmes joins the European team from Credit
Suisse Asset Management.
Formerly of Edinburgh Fund Managers, Alastair Currie, is joining
Premier Asset Management to run the UK Smaller Companies fund.
Management of the fund will be brought back in house after it has
been managed by David Horner of Chelverton Asset Management since
July 2002.
Manager of M&G's Growth and Strategic Growth funds Sam Morse is one
of two managers leaving the group. Marjan Daeipour, manager of the
Global Healthcare portfolio is also leaving. Both departures follow
a review by head of equity investment David Jane.For the time being
the Global Healthcare portfolio will be managed by M&G's equity /
structured products team which also runs M&G American. Morse's UK
funds will be managed by Peter Knapton, manager of the PPL UK Equity
fund. Jane is to take over the management of M&G Capital allowing
current manager Hak Salih to focus on his Income fund. Giles
Worthington, manager of the European Smaller Companies fund is also
to take on the European Blue Chip portfolio, with previous manager
Rosanna Burcheri possibly staying with the group as an analyst.
Thames River Capital is set to launch a performance fee-driven
global bond fund following the addition of Paul Thursby and Peter
Geikie-Cobb to the fixed income team. Thursby joins from Barings
where he ran the Global Bond Trust. Geikie- Cobb joins from Merrill
Lynch where he managed the Mercury Global Bond Trust.
Mark Holden has replaced Peter Wilton as manager of the Threadneedle
UK Select Growth fund. Wilton is moving to Threadneedle’s core UK
team to run institutional assets for UK pension funds. Holden will
be supported on the fund by current deputy manager Steve Hewitt.
Mark Williams has taken over as lead manager of the Isis Pacific
Growth fund, following the appointment of Mike Hanbury- Williams as
lead manager of the Pacific Assets investment trust.
Patrick Degorce is to leave Merrill Lynch, where he managed the
European Dynamic fund. Degorce is departing to manage a hedge fund
with a startup boutique, where a significant proportion of the new
fund’s profits will be donated to charity. The fund that is to be
launched is the Children’s Investment fund and donations to the tune
of 50% of all profits will go to African children who are victims of
Aids. The European Dynamic fund will be taken over jointly by James
Macmillan, head of European equities, and Niall Gallagher.
Simon Baker has stood down as lead manager of the Jupiter Ecology
and Environmental Opportunities funds. Baker will continue to work
on a consultancy basis, but lead management of the funds has passed
to Charlie Thomas and Peter Hulse respectively.
Schroders' Mark Pignatelli is returning to running money for the
first time since 2002 by taking up the role of head of European
equities. At the same time he will be stepping down from his role as
chief investment officer. Meanwhile, Richard Buxton, manager of the
UK Alpha Plus fund and head of UK specialist equities is promoted to
head of UK equities.
David Urch has left Martin Currie Investment Management. Urch was
the named manager, along with Jeff Saunders, on the Martin Currie UK
Growth, Martin Currie UK Active and Martin Currie UK Hedge funds.
His post has been taken by by former Martin Currie UK Growth manager
John Monnelly.
Kieran Gallagher has left Legg Mason. The chief investment officer
and head of European equities has resigned in order to set up a
boutique investment management operation or team up with a
specialist money manager. There is understood to be a two month
handover period to Jeremy Knight who currently manages the European
TMT fund.
Insight Investment has appointed Investment Manager Selection (IMS)
to advise on its multimanager assets as it seeks full-time
replacements for the departing Bambos Hambi and team. IMS has a
10-strong team headed by Richard Timberlake and more than $2bn of
assets under management. Insight’s current head of wealth management
Hambi and deputy Marcus Brookes are leaving the group for Gartmore
on 7 November.
Morley Fund Management has appointed two new managers to its UK
equities desk. David Shapiro joins from UBS Global Asset Management
to head up the UK value team reporting to head of pan European
equities Mike Bishop. Daniel Roberts joins from Invesco and will
report to Shapiro.
Lazard has hired four fund managers from Deutsche Asset Management
to establish a global team in New York. William Holzer, Nicolas
Bratt, Andrew Norris and Irene Chang have all joined as directors.
Gartmore head of derivatives Doug Shaw is leaving to start a hedge
fund company. He is joining Christopher Hohn, formerly with Perry
Capital. The pair will launch a pan European equity short/long fund.
Humphrey Van der Klugt is to step down from running the Schroder
Income and UK Equity funds on 1 October this year before retiring on
31 January 2004. Schroders has appointed in-house managers Nick
Purves and Christopher Metcalfe, who have both been with the group
10 years, to run the Income and UK Equity funds respectively.
Susan Roberts, Threadneedle's Pan European Growth fund manager is
leaving the company and the industry. She will be replaced on the
fund by Dominic Baker who is deputy manager to Darrell O'Dea on the
European Select Growth fund. Baker's replacement on this fund will
be Phillip Cliff.
ISIS Asset Management have appointed Chris St John to lead manager
on the UK Smaller Companies fund. St John currently manages the ISIS
Smaller Markets fund with Robert Mitchell, but both funds are to be
merged later this month. Mitchell will concentrate on investment
trust and AIM responsibilities.
Former head of UK small cap equities at JP Morgan Fleming Ross
Hollyman is joining Global Asset Management. GAM is expected to
launch a UK Smaller Companies / mid cap portfolio for Hollyman to
manage in the coming months.
Peter Cockburn is leaving Edinburgh Fund Managers to join his
colleague Robert Waugh at Scottish Widows Investment Partnership.
David Binnie has been appointed as head of UK equities at EFM, the
role vacated by Waugh.
Bambos Hambi and his team are leaving Insight to join Gartmore where
they are expected to run a retail fund of funds operation. Bambi
will be head of multi manager investment with his deputy being
Marcus Brook. Analysts Alexandra Mann, Ari Towli and Robin McDonald
all join Gartmore with Bambi.
Old Mutual Asset Management's Richard Woolnough has left to join
M&G. Woolnough managed the Corporate Bond & UK Fixed Interest funds
and is though to be managing the funds for at least some time yet as
part of his 6 month notice period. At the same time Ashton Bradbury
is due to step down as manager of the UK Select Smaller Companies
fund in January with management of the fund passing to Daniel
Nickols, the current manager of the UK Smaller Companies fund.
Edinburgh Fund Manager's head of UK equities Robert Waugh is to join
Scottish Widows Investment Partnership to assume the same role. He
replaces Graham Campbell at SWIP. In addition, Tony Mather is
leaving SWIP and is thought to be joining Edinburgh Partners. Mather
will be replaced on the UK Equity Income, Hill Samuel Income Trust
and Scottish Widows High Reserve funds by Richard Dunbar.
Insight Investment has appointed Jill Thompson to its equity team.
Thompson currently runs a number of institutional portfolios with
Schroders and is though to be joining Insight in November.
Steven Thompson, manager of the Merrill Lynch UK Dynamic fund and
head of the UK specialist equity team, has left the group. the unit
trust will be run by Mark Lyttleton, who also runs the Merrill Lynch
UK fund and Luke Chappell will take over as head of the group's
specialist team.
US fund manager Andrew Holliman is leaving Baillie Gifford to join
Threadneedle’s global equities team in January next year. Holliman
has been co-manager of the American fund since October 2000. Mick
Brewis will continue as lead manager on the portfolio with Malcolm
MacColl.
Schroders has appointed John Bowler from Axa Investment Management,
as the lead pharmaceutical analyst in its global sector team.
Cormac Weldon, head of US equities at Threadneedle, will be off work
for a few months following a cycling accident. American Growth
manager Zanny Perring will take on the American Select Growth fund
until Weldon recovers, while head of global equities Dominic Rossi
and Perring will oversee the US desk.
Scottish Widows investment director of pan-European equities Dale
Robertson left to join former Swip heads Sandy Nairn and Graham
Campbell at Edinburgh Partners. Robertson is the latest to leave
from Swip, which has seen David Erskin and Kenny Grieg leave to join
the fund boutique. Robertson managed the SW European Growth and SW
European Select Growth funds. He will be replaced by Vincent Devlin.
It is also reported that Swip’s property fund manager David Mitchell
is also set to leave the firm. Mitchell is to take up a post at
Kilmartin Property Group. His UK Balanced Property Trust will be
taken over by Michael Cunningham, who joined Swip in September 2000.
SG Asset Management has made four redundancies from its fund
management team including Jonathan Greig, manager of the Japan
Growth fund. Three institutional managers have also left the group.
Meanwhile, Adrian Gosden, manager of the UK Income Fund, has
resigned to join Adrian Frost’s team at Artemis. Greig’s deputy on
the fund for the past two years, Neiloy Ghosh, will become lead
manager. Malcolm Murray, head of UK equity strategy, will take over
from Gosden on the UK Income fund. He joined the group from UBS.
Investec Asset Management 's Jeremy Podger has quit the company's
Global team. He will be replaced on the Investec Global free
Enterprise and Investec Strategic Value funds by Nick Mottram.
ABN Amro has appointed Pascal Boeuf as a small and mid-cap portfolio
manager on the pan-Europe small-cap desk. Boeuf joined from fund
manager K&R Partners, where he was manager of a small and mid-cap
fund, and will report to UBS head of smaller companies Frank
Manduca.
Robert Gall, Richard Dryer and Andrew Wickham have all left the
Schroders fixed income team to join Insight Investment. Gall, head
of European fixed income, and Wickham, head of sterling fixed income
at Schroders, will both join Insight as co-heads of fixed income.
Dryer, manager of the Schroder Corporate Bond and the Monthly High
Income funds, will join Insight.
Bond fund manager Pimco has appointed Michael Amey as senior
vice-president of UK fixed income. Reporting to Emanuele Ravano,
Amey will be the lead portfolio manager for UK fixed interest
products and will be responsible for the development of UK and
pan-European investment strategies.
Isis Ecotec fund manager Mark Thompson has left the group. It
follows the announcement in May that Isis was closing down the
portfolio at the end of August as part of a rationalisation of its
fund range. The fund will be managed by James Howard until its wind
up.
Brunswick Asset Management has appointed Anton Khmelnitsky as head
of equities. Khmelnitsky joins from pictet International Management
where he was an emerging markets manager.
Isis Asset Management has expanded its in house research team with
the appointment of Mitchell Todd from Citigroup Asset Management. He
will be a senior sector analyst covering life and general insurance
as well as property.
Jupiter Investment Managers has reportedly parted company with two
members of its UK equity team, Rebecca Clifton and Edward Bland.
Clifton was a former manager of the UK Smaller Companies fund while
Bland was UK equity team manager. There are no immediate plans to
replace them.
Christine Farquhar has started her role as head of fixed interest at
Swiss asset management firm Lombard Odier. Formerly head of fixed
interest at Insight, Farquhar will be responsible for offshore funds
based in Jersey and Luxembourg. She is being joined at Lombard Odier
by Daniel Loughney, a bond analyst formerly with Threadneedle.
Isis Asset Management has expanded its in-house research team with
the appointment of Mitchell Todd from Citigroup Asset Management.
Todd will work as a senior sector analyst covering life insurance,
general insurance and property. At Citigroup, he covered insurance
stocks with the global equity research team.
Equity income manager at JPMorgan Fleming, James Inglis-Jones, has
resigned from the group. Christopher Llewelyn, co-manager with
Inglis-Jones on the Premier Equity Income fund, will assume
responsibility for the portfolio, along with Jamie Streeter and
James Elliot . Inglis-Jones also runs the UK Equity Income fund,
which will be taken over by Streeter, Elliot and James Soutter, and
the Balanced fund, to be managed by the same trio.
Malcolm Jones, head of fixed income at Aegon Asset Management, has
been replaced in the role by Mark Zinkula from the group's US bond
team. Jones has left the company and Zinkula has taken over
responsibility for its UK fixed income funds under management, in
addition to the $100bn he is already responsible for in the US Aegon
subsidiary.
David Kiddie, retail chief investment officer at Insight Investment,
is to leave the group. Kiddie is taking a break from the industry
and will not be joining a competitor in the immediate future. Kiddie
is on a six-month contract and will remain with Insight over the
next six to eight weeks, and on an ad hoc basis for the remaining
period, to help manage the transition process. Institutional CIO
Alan Denholm will assume Kiddie’s responsibilities while Insight
considers a replacement.
Kevin Adams, manager of the Credit Suisse Corporate Bond fund is to
rejoin Henderson Global Investors as director of global government
bonds. Adams previously worked in the fixed income division of
Hendersons between 1996 and 2001. He will be replaced at Credit
Suisse by head of UK fixed interest, Ian Fishwick.
Insight Investment has appointed Yyvonne McGann as head of dealing,
fixed income. McGann previously worked for Merrill Lynch as a fixed
income dealer.
Fidelity has announced in advance that, during the third quarter,
two Asia portfolio managers will transition their portfolios to new
managers. KC Lee will step back from managing the Fidelity
Investment Funds South East Asia Fund in order to take on a wider
investment role within Fidelity, and will be replaced by Allan Liu,
who has been with Fidelity since 1987.
Jay Talbot will step down from the Fidelity Investment Funds Japan
Fund to concentrate on managing domestic funds and will be replaced
by Robert Rowland, who joined Fidelity in 1995.
Head of UK and European equity team at Baring Asset Management, Jan
Mantel, has left the company with four analysts from the division.
He will be replaced by Simon Hallett. Sarah Austin, who has been
with BAM since 1993 will co manage the section with him.
Richard Batty is joining the strategy team at Standard Life
Investment as global strategist. Batty was previously global equity
strategist at HSBC Securities from 1995.
Yvonne McGrann has joined Insight Investment as head of dealing in
its fixed income division. McGrann was previously a fixed income
dealer at Merrill Lynch Investment Managers. She will report to
Nigel Pullen-Warner, head of money market and dealing.
Isis director and head of North American equities is to remain as
lead manager on the Isis North American fund following the departure
of Jon Greenhill. Greenhill was to have taken up the position but
has instead decided to leave Isis to join Lazard Asset Management to
work as an analyst on their global research platform, which
researches equities for both its onshore and offshore funds.
Former Govett manager Christian Dangerfield is to join Foreign &
Colonial in December to run the F&C Pacific Investment Trust.
Dangerfield has just resigned from Govett and will move from
Singapore to London to take over from cheif investment officer Tony
Broccardo who has been running the portfolio since the departure of
Charles Brock in April.
Former Axa Investment European fund manager Alia Baig is reported to
be joining Legal & General Investment Management next month. Baig
left Axa in December, and is thought to be taking the position of
head of European equities at L&G.
Three more fund managers have left Gartmore. Richard Evans, manager
of Gartmore Global Opportunities is being replaced by Chris Burling
who runs offshore global portfolios for Gartmore. Julian Sinclair
has also left the global team while Tim Dainton has left the UK
smaller companies desk.
Bill Mott is to give up day-to-day management responsibilities on
his Credit Suisse Income and Monthly Income funds from1 August
2003.Manager of the group’s Alpha Income fund Leigh Harrison will
assume responsibility for the two funds from that date.
Gartmore European Focus fund manager Ann Steele is to leave the
company after 10 years. The decision to leave is Steele's and no
replacement manager has yet been announced.
Stephanie Gerrard is to join Invesco Perpetual in July from
Aberdeen. She will join the group’s European team although Invesco
has not finalised her portfolio duties as yet. At Aberdeen, Gerrard
ran the European Champions fund, which is now to be managed by the
group’s head of UK equities Yoon- Chou Chong. Chong is also named
manager on the group’s UK Blue Chip, UK Growth funds and European
Growth unit trusts.
Scottish Widows Investment Partnership ( Swip) has appointed Peter
Glynne- Percy as head of research analysis. Glynne- Percy worked for
Invesco Asset Management for over 17 years where he held a number of
key positions. He replaces Steve Anderson, who is leaving the
company to join former chief investment officer Sandy Nairn who has
set up the investment boutique Edinburgh Partners. Glynne- Percy
will report directly to Graham Wood, Swip’s chief investment officer
for retail equities.
Stephen Watson has joined Northern Trust Global Investments Europe
as a portfolio manager on its active international equities team.
Watson will focus on European equities and be responsible for
research and stock selection across all of the firm’s European and
international portfolios. Watson joins from National Bank of Greece
International.
Head of international equities at Royal London Asset Management,
Phillip Lawlor, is joining Nomura International as chief portfolio
strategist. Andrew Carter, CIO at RLAM, will temporarily take over
Lawlor’s responsibilities when he leaves at the end of June.
Deutsche Bank have promoted Michael Lewis to global markets head of
commodities research.
Credit Suisse has introduced global heads of equities, fixed income
and alternative investments to replace the global chief investment
officer position. As a result of this change the group's current
global chief investment officer Laurence Smith is to leave the
group. Credit Suisse recently appointed Jack DiMaio as CEO of
alternative investments, while the group's chairman and CEO Michael
Kenneally will oversee the equity and fixed income performance until
global heads are appointed.
Juliet Cohn, former Alliance Dresdner Asset Management fund manager,
has joined Principal Global Investors as head of European equities.
Cohn will manage the PGI European Equity Fund.
Baring Asset Management has boosted its UK fixed interest and US
equities team with Pamela Hegarty joining the group as head of the
technology sector and investment manager, and Sophie Petit as credit
analyst. Hegarty, previously with Janus Capital, will be based in
Boston while Petit, formerly at Moody’s, will be based in London.
Fergus Shiel has left his position as manager of the Fidelity
American fund. Shiel took over the fund in June 2002 following the
departure of John Muresianu and is replaced by Jason Weiner.
Geoff Miller has left Exeter Fund Managers. Miller managed the
Exeter Financial and Exeter Growth and Income investment trusts.
Head of the fixed interest team Andrew Cope has taken over the HSBC
Corporate Bond fund following the departure of Colin Storrar earlier
this year.
Invesco UK's plans to unify its investment team in Henley has
prompted a number of departures from the group. Claire Griffiths,
David McGillveray and Robert Moss are all leaving. Tamsin Faeirs
will assume management of Griffith's European Smaller Companies
fund, while Graham Kitchen will take over McGillveray's UK Equity
and UK Trends portfolios. Moss, a former manager of the UK Equity
fund has been without a retail portfolio since it was taken over by
McGillveray in March this year. Kitchen also runs the Income &
Growth fund.
Peter Geikie- Cobb is leaving Insight Investment in August, after
less than a year with the group, to join Thames River Capital. He
will remain at Insight until the end of the July to oversee the
handover period on his Global Bond fund. Taking on the portfolio is
Frank Burke, who joined Insight as part of the acquisition of
Rothschild Asset Management ( RAM) last year. In response to of
Geikie- Cobb’s impending departure, Insight has merged its Global
and European fixed income teams with immediate effect. Previous head
of the European bond team, Adrian Grey, will assume overall
responsibility for the international fixed income desk and Burke
will move to this team to work alongside Bonnie Abdul Aziz, Gareth
Colesmith and Isobel Lee.
Credit Suisse Asset Management’s Japan manager Nick Edwards has left
the group as part of a reorganisation of its Japanese headquarters.
As part of the move, Tokyo based head of Japanese equities Shusaku
Saito will take over the £ 5.8m New Japan fund from Edwards.
Solus UK Special Situations is being overhauled under its third
manager in two years. The current incumbent, James Buckley, took
over following the departure of Nick Greenwood at the end of
February. Buckley is restructuring the fund, selling all its AIM
listed stocks and a number of small caps and reinvesting in FTSE100
and FTSEMid250 companies.
Threadneedle UK Corporate Bond fund manager Ted Bacon is to retire
in the next few months. His replacement will be David Oliphant with
the groups head of investment grade research Andrew Crawford as
deputy manager. Oliphant is currently lead manager on the
Threadneedle Dollar Bond fund. Bacon has also run the Strategic Bond
fund since launch in 2001 and his current deputy Barrie Whitman will
take control. Whitman currently runs the group's High Yield Bond and
European High Yield Bond portfolios.
Tim Schofield has joined Scottish Widows Investment Partnership as
head of international research and global sectors. He takes over
from Graham Wood, who was recently made chief investment officer,
equities and retail. Schofield worked at Royal & SunAlliance
Investments until the merger with Friends Ivory & Sime last year.
Collins Stewart is launching its US equity fund later this month
under the stewardship of former Aegon fund manager Neil Smeaton.
Derek Izuel and Erik Granade are to run Invesco Perpetual’s Global
Dynamic Theme and International Growth funds respectively. The move
follows the closing of Invesco’s London- based global equities
investment function, which was announced in February, and the
opening of two investment centres. Izuel and his team will manage
the Global Dynamic Theme fund from San Francisco while Granade will
run the International Growth portfolio from Invesco’s offices in
Atlanta. Both funds will continue to be managed by Bob Yerbury and
his team in the UK until the handover to the new managers takes
place, probably before the end of May.
Charles Brock has stepped down as manager of the F& C Pacific
investment trust. F& C chief investment officer Tony Broccardo has
taken over as interim manager until a permanent replacement is
found.
Former Gartmore Chief investment officer Peter Chambers has joined
Framlington as chief executive officer.
Gartmore Global Investments have appointed Simon Melluish as the
head of the US equity desk. The position is a new one and will sit
alongside his current role as head of US equity desk for Gartmore
Investment Management. Mellusih currently manages the American Focus
and American Opportunities funds.
Diana Wilde, joint head of equity income at Aberdeen Asset
Management and lead manager on the Murray Extra Return, Murray
Income, St David's and Income & Growth investment trusts, has left
the company. It is two months since her highest profile fund,
Aberdeen Equity Income was sold to New Star Asset Management.
Framlington's NetNet fund manager Nick Evans is to become lead
manager of the group's Nasdaq unit trust in August this year. Evans
has been co-manager of the fund with Stephen Kelly, manager of the
American Growth fund since September last year.
First State Investments has added to its global equities team.
Vincent Houtteville joins as analyst on global financial services
and Trent Koch as global research analyst. Both report to desk head
David Leary.
Robert Davy has replaced Giles Neville as manager of the Schroder
Global Emerging Markets fund. Neville moves to a business
development role as head of product managers for emerging markets.
Richard Fletcher has left Gartmore to join Isis Asset Management as
head of credit analysis. Fletcher, who was head of credit research
at Gartmore, will report to James Foster, head of credit at Isis. At
Gartmore, Fletcher was responsible for building up the group’s
proprietary credit research process in investment grade and high-
yield bonds.
Andy Brunner, former head of asset allocation and global investment
strategy at Aberdeen Asset Management, has joined Forsyth Partners
as chief investment strategist. Brunner reports to Peter Toogood,
the group’s joint managing director of investments and research.
Rossen Djounov, joint managing director of investments and research,
will now cover alternative investments, with Brunner primarily
focusing on asset allocation and risk controls.
Chris Cuddington has joined Thames River Capital’s fixed interest
team as investment manager. Cuddington came to the group from
Macleod Phillips and was previously a partner at Anderson, where he
was responsible for the emerging markets practice. Sridhar Venki has
been appointed as a directional analyst at Thames River for the
multi- manager team. Venki was previously head of closed end fund
research at ING Barings.
Foreign & Colonial Latin American investment trust manager Emily
McLaughlin has left her post after almost 10 years. She has been
replaced by Rupert Brandt who moves up from his position as manager
of the trust's Mexican and Argentine investments.
A former Norwich Union fund manager, Jeff Currington, is to join
HSBC Asset Management as head of European equities next month.
Currington will run the European Growth fund previously managed by
Chris Rice who left HSBC to join Casenove last year. Andrew Koch,
who has been running the fund in the meantime will return to his
portfolio duties as part of the European team.
Adrian Fowler is leaving his role as head of pan European equities
at Aberdeen. A statement from Aberdeen stated that Fowler's role had
become redundant following a restructuring of the investment team.
Current European fund manager Gregor Smith is also to leave.
Yoon-Chou Chong, head of UK equities will assume Fowler's duties
whilst continuing to have responsibilty for the UK. Fowler formerly
ran the European Growth fund, and Stephanie Gerrard will become lead
manager alongside Chou. Chou is also named as lead manager on the UK
Blue Chip and UK Growth funds.
Gartmore fixed income manager Paul Grainger is reported to be
leaving the group in August to join F&C. Grainger will be director
of UK sovereign bonds at F&C and report to head of sovereign bonds
Helen Roberts. Grainger will manage his Gartmore portfolios until
August while a replacement is sought. He has been running the
Corporate Bond and Extra Income funds, which are due to merge in
May, and he also manages the UK Fixed Interest fund.
Bill Baron, former deputy chief investment officer and head of
emerging markets at Invesco, has joined Deutsche Asset Management.
Byron joins as global head of research. Stephen Barrow is made head
of global equities portfolio team and Diane Seymour-Williams takes
over as product head for global equities.
Mike Nicol joins Martin Currie Investment Management to launch a
European long/short equity hedge fund in June. He will be the lead
manager on the Martin Currie European Absolute Return fund which
will be co-managed by Dean Fuschillo, head of the European equity
team. Nicol was previously with Scottish Value Managers where he was
co-manager of Highlander European long/short equity fund.
Fidelity has added 3 analysts to its fixed interest desk taking the
global total to 119. Dierk Brandenburg joins from Deutsche Bank,
David Meade from Morgan Stanley and Olivier Szwarcberg from Bear
Sterns.
Morley Fund Management has appointed Ceris Williams to head of fixed
income following the departure of Peter Rains.
Scottish Widows Investment Partnership (SWIP) has added to its UK
investment team with the addition of two new small cap managers.
Johnny Russell joins from Edinburgh Fund Managers where he was
investment manager on the company's UK smaller companies desk. Andy
Gray joins from Legg Mason Investors where was a manager in the UK
smaller companies team.
Chris Cheetham has left his post as global chief investment officer
at AXA Investment Managers in order to assume the same role at HSBC.
He is expected to start at HSBC in May.
Sandy Nairn, chief investment officer at Scottish Widows Investment
Partnership ( Swip), and Graham Campbell, head of retail funds,
resigned on Tuesday 25 March. It is understood that the pair plan to
establish an investment boutique.
Evolution Capital, the company behind stockbroker and fund manager
Christows has hired Ross Hollyman, the ex head of smaller companies
and former manager of the JPMorgan Fleming UK Dynamic fund. It is
not clear at this stage whether Hollyman will run money for the firm
which has a relatively low profile in the fund manager arena.
Gartmore has announced a series of appointments within its
investment division, aimed at strengthening its senior team. Roger
Bartley is to become global chief investment officer fixed income,
adding this to his existing responsibilities as fixed income CIO in
London. Young Chin has been appointed as global chief investment
officer equities for Gartmore Group, combining this with his role as
CIO for Gartmore's US business. Chin will hand over responsibility
for US fixed income to Bartley. Finally, Quintin Price is becoming
chief investment officer equities for Gartmore Investment Management
and will join the board.
Invesco Perpetual has changed the lead managers on its UK Equity and
Rupert Children's funds with immediate effect. Former Rupert
Children's manager David McGillveray has taken over the groups UK
Equity fund, previously known as UK Core, from Robert Moss, while
Martin Walker assumes responsibility for Rupert children's. Moss is
to remain with the group.
Invesco has hired Ian Brady as head of US equity investment. Brady
was previously head of US equities at Schroders and headed the
Perpetual US investment team before that. He replaces Rita Whig.
Former Schroders fund manager Chris Rodgers is set to join HSBC
Asset Management next week as head of UK equities and manager of its
UK growth fund. Rodgers, who will report to the global CIO, is the
first external manager appointed to replace any of the 5 managers
HSBC lost to Casenove last year. Rodgers was with Schroders for 20
years until October 2002 and managed their UK Dynamic Trust and UK
Growth investment trust. He replaces Bob Morris at HSBC, who has
been managing the fund since the departure of Julie Dean last year.
Morris has also been managing the group's UK Growth & Income
portfolio plus his own Household Names fund and will continue to be
the lead manager on these funds for the long term.
Martin Porter has become global head of equities at JP Morgan
Fleming Asset Management and will be responsible for all quoted
equities and balanced funds. Prior to this Porter was chef
investment officer of the Fleming equity and balanced funds process
globally.
Legal & General Investment Management has appointed Richard Penny
and Robert Churchlow to its active fund management team. Penny takes
the role of senior fund manager, UK equity smaller companies and
Churchlow will be senior fund manager on the linked pension equity
fund. Penny was previously UK Small Companies manager at M&G.
Churchlow has managed funds for Provident Life, Royal & Sun Alliance
and Invesco.
Standard Life Investments has strengthened its global equities and
fixed interest teams with two appointments. Reg Watson joins as
investment director in the global equities team from Threadneedle.
Alastair MacLean, a director of investment house CIBC has been
appointed as European Credit analyst in the fixed interest team.
Michael Legros has been replaced as manager of the Merrill Lynch
European Dynamic fund and co manager of the MLIF European fund.
Legros has been made head of European equity research and the
management of European Dynamic has passed to Patrick Degorce who
also runs the group's offshore Euro Market fund. James Macmillan
takes over as co manager on MLIF European alongside Degorce.
Derek Mitchell, director and member of the UK equities team at Isis
Asset Management has replaced Paul Galloway as manager of the Ivory
& Sime Isis Trust. Galloway will be leaving the group at the end of
the month.
Ian Brady has returned to Invesco Perpetual almost two years after
leaving the group to head up the US equity team and run the US
portfolio he previously managed. Brady left Invesco Perpetual in
1991 to join Schroders as head of US equities.
Alistair Currie, head of UK smaller companies at Edinburgh Fund
Managers has left the group following the announcement of 17
redundancies last week. He has been replaced as manager of the UK
Smaller Companies investment trust by Gareth Rudd, his deputy. The
Edinburgh Smaller Companies Oeic fund is now being co managed by
Andrew Paisley And Peter Cockburn.
Gartmore is looking for a China specialist from outside the group to
drive its China Growth fund. Margaret Gadow left the fund last week
to take time away from fund management, with Phillip Ehrmann, head
of Pacific and emerging markets taking control in the meantime.
Exeter Fund Managers has completed a fund management reshuffle, the
aim being to streamline its fund management and improve efficiency.
Nick Brind hands over management of the Exeter Smaller Companies
OEIC to Andrew Hobson, and zeros fund manager Paul Craig has taken
over Charles Rawson's fixed interest portfolio. Brind will continue
to manage the Exeter Capital Growth and Exeter High Income funds,
while Rawson retains control of the Exeter Managed Growth fund.
New Star has taken on another technology fund manager from Aberdeen.
Neil Campling, former fund manager on the global technology team at
Aberdeen has joined New Star alongside John Pullar-Strecker.
Baring Asset Management has hired Ed Britton, who left his post as
Newton's head of fixed income last December. He becomes senior
credit fund manager at Baring and will be lead manager on a number
of portfolios.
Investec has added to its global equity team with the appointment of
Mark Breedon as a senior fund manager focussing on emerging markets.
It seems that further change could be afoot at Invesco Perpetual.
Habib Subjally, the current head of the Global Equity desk is set to
leave only a year after joining the company from Merrill Lynch
Investment Management. Although Invesco MD Mike Webb has confirmed
Subjally's departure, a date has not yet been disclosed. Webb was
"unable to confirm" a further departure, that of Rita Whig, head of
the US desk and manager of the US Equity and US Aggressive funds.
Ben Rogoff, second in command on the Aberdeen technology desk has
left the company, just days after desk head John Pullar-Strecker
left for New Star. Rogoff is joining Polar Capital, a specialist
technology outfit established by Brian Ashford-Russell & Tim Wolley
when they left Henderson two years ago.
Allison Larkin assumes the role of fund manager of the Schroder
Medical Discovery fund following the departure of Kristine Bryan
prior to Christmas.
The manager of the Solus UK Equity Income and UK Growth funds, John
Smith, has also been given the role of chief investment officer.
Formerly head of strategy at Brown Shipley, Smith is currently a
member of the investment committees of Brown Shipley and Kredietbank
Luxembourg, both parent companies of Solus. In a separate move Legal
& General’s former director of investments David Rough has joined
Solus as non- executive chairman.
Sascha Hirsch has joined Baring Asset Management as an investment
manager on its UK and European specialist investment team. He will
manage and research small and mid cap stocks and will help Jan
Mantel run the Baring German Growth Trust.
Mark Sanders is to be deputy manager on New Star’s High Yield Bond
and Extra High Yield Bond funds, following his arrival from
Aberdeen. Sanders will be deputy to James Gledhill on both funds.
The New Star Extra Yield Bond fund is New Star’s name for the
Aberdeen High Yield Bond fund.
Benjamin Rogoff has left Aberdeen to join investment boutique Polar
Capital. His move follows the sale of Aberdeen’s two technology unit
trusts to New Star. Rogoff, deputy to John Pullar- Strecker, who has
now joined New Star, is expected to join Polar Capital on 1 May
after he finishes his gardening leave. In Rogoff’s place, Aberdeen
has appointed Rob Sellar as head of its technology team. Sellar
worked alongside Rogoff as deputy to Pullar- Strecker.
Bedlam Asset Management has lost one of its fund managers following
the company launch just over one month ago. Jason Whittaker has left
his role as manager of the Bedlam Global fund. Bedlam Asset
Management was founded by Ex Credit Lyonnaise employee Jonathan
Compton.
Rupert Della-Porta has joined F&C as head of US equities after
leaving the same role at Aberdeen Asset Management in September
2002. His appointment follows a restructuring of F&C's entire US
investment process. Further moves as a result of the process see
Bart Noordman, US fund manager returning to the US desk at F&C
Netherlands, while Graeme Glen, another manager on the US desk
leaves the group. This follows the departure of Liz Rae, former head
of US equities in September 2002.
Ross Hollyman has left his post at JPMorgan Felming following a
reshuffle at the firm. Hollyman managed the JPMF UK Smaller
Companies fund with Georgina Brittain and the JPMF UK Dynamic Fund
alongside Ajay Gambhir.
Invesco Asset Management has changed managers on two US focussed
funds from its Dublin based offshore range. Management of Invesco
American Equity Core has passed from RIch Collins to Ronald L.
Kotter. Management of the Invesco GT Technology fund is in the
process of changing hands following the departure of Jay Nakahara.
Habib Subjally will take over the management of the fund, a move
which is pending regulatory clearance.
Solus has recruited Simon Brooks from Investors Partnership to
co-manage its funds of funds offering. Brooks is to work alongside
Solus's head of multi-manager Alan Stokes, who himself joined them
from Investors Partnership last year.
Merrill Lynch fund manager Bill Healy has left the company after it
combined the teams that handle investment grade and high yield debt.
Healey helped to run the High Income Bond Fund, overseeing European
high yield fixed interest investments.
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