Former Isis manager Michael Kerley has taken the post of deputy fund
manager on the Henderson TR Pacific trust. He was previously head of
Pacific Basin Equities at Isis.
Bill Brown and Robert Mitchell are leaving Foreign & Colonial to
establish their own investment boutique. They have reached an
agreement with F&C which will see them manage the Active Capital,
AIM VCT and AIM VCT 2 trusts and Mitchell will also continue to
manage the Discovery Trust under contract to F&C.
Alex Odd is leaving Jupiter to join M&G where he will work alongside
Richard Hughes on the Extra Income fund and fund of investment trust
New Star Investment Funds has appointed Dan White as an analyst on
its European desk. White was previously with CIC Securities in their
AXA Investment Managers have appointed Kieron Nutbrown as head of
tactical asset allocation. He joins from Investec.
Insight Investment has recruited Simon Marriot as a senior director
to its property fund management team. He will report to managing
director of property Duncan Owen who he will work alongside on the
St James's Place Property Portfolio. Marriot joins from Quintain
Estates & Developments.
Baring Asset Management have appointed Bryan Collings as head of
emerging markets, replacing Kate Munday. Collings joins from
Deutsche Asset Management where he was director, emerging market
equities. Munday is moving to become director of client service.
Steven Westwood is leaving Henderson Global
Investors to join Fidelity, where he will be director of investment
F&C Asset Management chief investment officer
Tony Broccardo is to become the lead manager on the F&C Managed
Distribution fund. The previous manager, and chief investment
officer at ISIS, Robert Talbut, left the group recently following
the merger of the two companies.
Morley have appointed Mark Watts as head of
global fixed income. Prior to joining Morley he was at Baring Asset
A reshuffle at AXA IM sees 3 managers leaving the
company with one joining. Martin Cholwill, manager of the UK Equity
Income fund, along with life fund managers Brian Kirkland and Adrian
Warwick are leaving, while Richard Prew joins from Hendersons. Prew
will run both institutional and retail money, on the retail side
managing the UK Growth Fund and General Unit Trust. Previously both
of these funds were managed by Ricahrd Marwood, who remains with the
group but switches to work on the companies' Distribution Fund.
Management of the UK Equity Income fund will become the
responsibility of head of UK equities, Stuart Fowler, who Prew will
There are a number of changes to the Legal &
General fixed income team. Stuart Steven is relinquishing his role
as as manager of the Fixed Income fund and as head of of the
investment grade team will concentrate on the investment grade
process across all products. The fixed income fund will be managed
by Malcolm White who joined L&G recently from First State. White
will also run the Managed Income and monthly Managed Income funds.
Current manager of these funds, Robert Barnard Smith is
relinquishing that role in order to concentrate on institutional
Martin Currie head of research, Susan Smith, is
leaving her post for personal reasons. She will be assisting with
the selection of her successor.
Former Jupiter head of investment trusts, Andrew
Watkins, is to join Invesco Perpetual as distribution director for
its closed end funds.
Simon Melluish has resigned as co manager of the
Gartmore US Growth, possibly in order to move to the US. He will be
replaced by Gary Haubold, who will also continue to the Gartmore
Small Cap fund.
Mervyn Douglas will take over the Legal & General
Growth Trust when he joins the company next year. Douglas will join
L&G from Morley Fund Management. The L&G Growth fund has been
managed on a caretaker basis by Tim Mann since the departure of
Ashley Reid earlier this year.
Alan Wilde joins Baring Asset Management as a
senior fund manager on the fixed interest team. Based in London he
will be a member of the team lead by Mario Valenise. He joins from
Abbey National Asset Management.
Kerry Goh is to leave the recently merged F&C
group where he was recently appointed head of Japanese equities. It
is believed he is returning to Singapore.
Bryn Jones joins Rathbone Unit Trust Management
as manager of the Ethical Bond fund. He joins from Merrill Lynch
Investment Managers and replaces Luke Hickmore who is leaving to
pursue a career as a credit strategist.
Aegon Asset Management has appointed Simon Carter
as head of international tactical equities. He joins Aegon from
Morgan Stanley and a member of Aegon's senior equity management team
he will head the company's range of overseas tactical funds,
including Aegon American, European Equity, Technology Tactical and
Worldwide Tactical. He will also become lead manager on the Aegon
American fund, replacing Elaine Crichton who left the company
Lloyd Whitworth is appointed head of the core UK
equities team at Morley Fund Management. Whitworth joined Morley
earlier this year and had previously held positions at Dresdner RCM,
JPMorgan Fleming and Allied Dunbar.
Adrian Jackson has been appointed as an energy
analyst at Investec Asset Management.
Will May is relinquishing his post as assistant
manager of the Neptune Japan Opportunities fund.
The role of Martin Currie chief investment
officer James Fairweather has been revamped to allow him to spend
more time on investment matters. Responsibility for such matters as
personnel management has been passed to Tim Hall, the head of client
Morley Fund Managers has appointed Rita Dhut as
head of European equities following the recent departure of Gavin
Corr. Dhut has been with Morley since 2001 when she joined from M&G.
Samir Patel has joined Charlemagne Capital as a
Latin American fund manager. Previously Patel was manager of the
Pictet Latin American fund.
Investec Asset Management have appointed Jerry
Toner as manager of the Global Bond fund to replace the outgoing
Kieron Nutbrown. Toner joins from F&C Asset Management where he had
occupied a variety of positions and roles.
Gavin Corr has left Morely Asset Management to
join Merrill Lynch. Corr, who was manager of the European fund, is
to join Merrills in January where he will become a member of the
European equities team reporting to James Macmillan. Corr's deputy
at Morley, Bruno Berry will manage the European fund with immediate
Current director of specialist funds at Henderson
Global Investors, James Robinson, is to leave the group at the end
of the year.
Former Jupiter fund manager Kenneth Warnock has
joined Premier Asset Management to run its UK Opportunities vehicle.
Warnock left Jupiter, in February 2003 to go travel.
Alex Ingham is joining Morley Fund Management as
a US manager. Ingham was previously head of North American equities
at Aberdeen Asset Management and manager of the groupís North
American unit trust. Penny Kyle has also joined Morley as head of US
equities from American Express Asset Management.
Crispin Cripwell is to join Baring Asset
Management in November to co-manage the groupís Global Growth Trust
with current manager Chris Lees. Cripwell will be a senior investor
in the multi asset team, reporting to head of asset allocation
Percival Stanion. Cripwell was previously head of US equities at
The six member strong Cazenove global equities
team, lead by Simon Somerville, have left the group. As a result the
company is currently assessing the future of its Global
Opportunities fund, which is for the moment being looked after by
chief investment officer Anne West.
Baring Asset Management have appointed Hyung Jin
Lee as a senior investment manager for Asian equities.
Schroders have appointed David Scammell as
manager of the Gilt & Fixed Interest fund. Scammell was formerly
director of investments at Anchorage Capital Partners. At Schroders
he will report to head of UK fixed income Jeremy Cave.
Royal London Asset Management has appointed ex
Isis chief investment officer Roger Talbut as its cio. Talbut takes
over from Andrew Carter who has been fulfilling the roles of both
cio and chief executive.
JPMorgan Fleming has recruited three new members
to its Japanese investment team. Stuart Cox, Noriko Kuroki and Eiji
Saito have joined the team as investment specialists. Cox joins from
from Insight Investment where he was a senior fund manager. Kuroki
has transferred from JPMorgan Securities to join the Japan team and
Saito joins from Nikko Asset Management.
Simon Clinch has replaced Alex Ingham as head of
US equities at Aberdeen Asset Management. Clinch, who will report to
head of equities Hugo Young, will take responsibility for the North
American fund which was previously managed by Ingham, who is leaving
Isis UK Prime fund manager Mike Felton has
resigned from the group. His deputy on the fund, Derek Mitchell will
assume responsibility in a caretaker role.
David Jacob is to join Henderson Global Investors
as head of fixed income. He previously worked at UBS Asset
Management. Now that Hendersons have individual heads of equities,
fixed interest, private capital and property the role of chief
investment officer is being dispensed with, and current incumbent
Ian Buckley is set to leave the group in March 2005.
The management of the Invesco Perpetual US
Smaller Companies fund has been transferred back to the UK, under
the management of Ian Brady. As a result Brady now run's money on
all the group's US retail products.
Insight Investment have appointed Sandy Black as
head of equities. Black was formerly the head of the European
equities desk at Deutsche Asset Management.
Laurent Ducoin has joined Merrill Lynch
Investment Managers as part of the European specialist equity team
from CIC Securities in Paris.
The new manager of the DWS UK Blue Chip fund is
Nick Evans, who takes over following Michael Crawford's departure
from the group.
Following the merger of F&C and Isis, Christian
Dangerfield will take charge of the Pacific Equities desk, while
Kerry Goh will be head of Japanese equities. Reporting to Goh will
be Soh Lay Peng and Kaori Ishii. Mike Hanbury-Williams has been
named as deputy head of Asia and will report to Dangerfield, along
with managers Mark Williams, Mike Kerley and Calum Graham. Hanbury-Williams
continues to manage the Isis Pacific Assets investment trust and it
seems likely that Mark Williams will continue to manage the Isis
Pacific Growth Oeic.
Henderson UK Capital Growth fund manager Richard
Prew has left his portfolio, leaving the fund under the stewardship
of Mileen Rash.
ISIS Strategic Bond and Extra Income Bond fund
manager James Foster has left the company after returning from his
sabbatical. His departure means that Fatima Luis and Alexandra Ralph
move from being interim managers to lead and deputy on the Strategic
Bond and Extra Income funds.
Insight have appointed Jeff Atherton to manage
their Japan Equity fund. He replaces Stuart Cox who is leaving to
join JP Morgan Fleming. Atherton, previously a member of the global
equities team at Societe Generale Asset Management, will have the
post of director of international equities at Insight.
James Hanson has joined Charlemagne Capital as
head of risk management. He joins from JP Morgan Fleming where his
role was performance and risk analysis.
Legg Mason Value Trust US mutual fund assistant
manager, Nancy Dennin, is leaving her position and moving to the
group's private client division. No direct replacement is
anticipated. Current manager Bill Miller will continue to head up
the investment team.
Co-manager of the Collins Stewart US Equity fund,
Piers Watson is leaving the group as he plans to emigrate. Remaining
manager Neil Smeaton is reportedly in the process of finding two
others to assist him.
David Sheasby is joining Martin Currie as a
member of the international equity team. Sheasby, who will be a
director of multi regional products, was previously with Aegon.
Emerging market debt expert, Alia Yousef, is
joining First State as Portfolio Manager on its Global Fixed
Interest team in October. She joins from Fischer Francis Trees and
Watts where she was Emerging Markets Portfolio manager.
Jeremy Lodwick will join Framlington as chief
investment officer in November. He replaces Neil Birrell who left
Framlington in 2003, since which time the post has been occupied by
chief executive Peter Chambers.
Head of equity research at Martin Currie, Susan
Smith, is reportedly to leave the company by the end of the year.
Bob Yerbury is reportedly handing over the
management of the Invesco Perpetual International Equity fund to
Kathryn Langridge in the next few months.
Ailsa Craig has joined Baring Asset Management
from Insight Investment as an analyst on the pan European small and
mid cap desk, specialising in pharmaceuticals.
Newton Investment Management has appointed 2 new
analysts to its global research team. Robert Canepa-Anson, formerly
with Deloitte & Touche will analyse companies in the utility sector
and Tim Lucas, formerly with Insight Investment Management, will
take responsibility for leisure and support service companies.
Alan Conway is joining Schroders as head of
emerging market equities. Conway was previously with West LB Asset
Management (UK) as head of global emerging markets and chief
executive officer of WestAM (UK). He will report to Schroders global
head of equities, Ken Lambden and will assume the investment
responsibilities of Peter Clark, CEO of Schroders in the Americas.
Allianz Dresdner has appointed Jeremy Thomas to
its UK equity team as a portfolio manager. Thomas was formerly a
director in the UK Equity Portfolio Management team at Isis, with
responsibility for stock selection and portfolio construction for
Harriet Parker has joined Morley Fund Management
as an analyst on the SRI team to assess the probable financial
impact of certain social and environmental issues on companies.
Prior to joining Morley she was an external consultant to the SRI
Graham Kitchen is joining Threadneedle from
Invesco Perpetual to head up the UK equity team. Kitchen was until
recently co-head of investment at Invesco Perpetual.
Allianz Dresdner Asset Management has recruited
Neil Winward as product specialist, investment trusts, replacing
Paul Seaton-Burn. Winward joins from Morgan Stanley Quilter and will
report to head of investment trusts, Simon White.
Ewan McAlpine has joined Merrill Lynch Investment
Managers as a sterling fixed income specialist on the UK fixed
income team. He joins from Schroder where he was product manager for
UK fixed income.
Ken Hsia is joining Investec as a sector
specialist in its UK equities team. Hsia will also work alongside
Dan Hanbury as assistant portfolio manager on the UK Smaller
Companies fund. Hsia was previously with hedge fund specialists,
MoVa Investment Partners.
Pioneer Investments has appointed Zeke Diwan as
senior high yield credit analyst for its European fixed income team.
Diwan joins from Citigroup in New York and reports to head of
emerging markets and European high yield, Greg Saichin.
Baring Asset Management has appointed James
Thorne and Nicholas Williams to its UK Smaller Companies and Europe
Select funds respectively. Thorne is expected to join next month
from 3i and replaces Andrew Neville who left to join Allianz
Dresdner earlier in the year. Williams joins from Singer and
Friedlander Investment Management where he was most recently a
director specialising in the fund management of institutional
Michael Markham is no longer running Investec
Monthly High Income fund with the responsibility passing to Peter
Burbank. Burbank will co manage the portfolio with Chris OíHare, who
has been with Investec for nine years, focusing on high yield and UK
fixed income for a variety of clients. He joins from Merrill Lynch,
where he was a director in credit research. He will manage the
groupís credit selection process, overseeing stock specific issuer
analysis. Markham will now be responsible for the development of
Investecís front-office fixed income system.
Former Brown Shipley private client manager
Michael Clarkson has been put in charge of the Solus Balance, Growth
and International funds of funds.
Fixed income manager BlueBay Asset Management has
hired former Putnam Investments' Anthony Robertson as a senior
portfolio manager. Robertson was responsible for the Putnam / New
Flag Euro High Yield fund.
Framlington emerging markets manager and chief
economist Jonathan Asante is to leave the group later this year to
join First State as a senior analyst focusing on non-Asian emerging
markets. Reporting to head of emerging markets Angus Tulloch, Asante
will form part of the team that works with the manager of the Global
Emerging Markets fund, although he will have no retail fund of his
own to run. Asante has been with Framlington for nine years,
overseeing the groupís Emerging Markets fund since January 2000,
after taking over from William Calvert. Calvert will assume
temporary control of the portfolio if there is an interim period
between Asanteís departure and a new appointment being made.
Morley fund management has moved the management
of the US high yield bond element of the Norwich Managed High Income
fund to its fixed income team in Boston. Head of fixed income in
Boston, Dan Fasciano, will take over the portfolio.
Christows' head of research James Hughes has
joined Axa as a portfolio manager in its multi manager divison.
Reporting to CIO Phillipe d'Orgeval, Hughes will contribute to the
manager selection for UK equities, fixed income and European
equities, as well as being responsible for portfolio construction,
cash management and asset allocation strategy.
Isis Global Bond fund manager Richard Stevens is
leaving the group to join Legal & General. It is likely that a
replacement will be found as a result of the recent merger between
Isis and F&C.
Gartmore Investment Management has appointed
Peter Allright to its fixed income team. He joins from Royal London
Asset Management where he managed the Royal London Index Linked Gilt
fund and oversaw bonds across various portfolios.
Jeff Morton is appointed as a fund manager on the
Merrill Lynch Investment Managers real estate team.
It is reported that Tom Berger will join Skandia
Life as chief investment officer at the beginning of October, from
Billy Chan has ceased to manage the Invesco
Perpetual Hong Kong & China fund. He will remain as CIO of Invesco's
joint venture based in Shenzen. Current Hong Kong pensions team head
Paul Chan will take over the day to day management of the Hong Kong/PRC
offshore funds, with Invesco Perpetual currently seeking another
senior fund manager to join the team.
Andre Argyle is stepping down from management of
the Schroder Gilt & Fixed Income fund. After 9 years with the group
he is leaving to take up a sales position with Goldman Sachs. Head
of Schroders' UK fixed income team Jeremy Cave will take
responsibility for the fund until a replacement is found.
Antony Gifford is stepping down as manager of the
Henderson North American fund and will be replaced by Robert
Villiers, head of Hendersonsí US index fund team. Gifford will
continue to work on the US desk.
Mark Pollard has been appointed managing director
of European Equities at Putnam Investments and will be the first
European equities manager to be based in London. He rejoins Putnam
from Jura Capital, where he was one of the founding partners. In his
new role he will be responsible for all European fundamental equity
research and analysis. He is the first portfolio manager for
European equities to be based in London rather than at Putnamís head
office in Boston.
New Star is appointing former Estates & General
managing director Roger Dossett to manage the property portfolio of
its property unit trust. New Star expects Dossett to take over the
running of the property portfolio from Capital & Counties later this
year. At the same time New Star UK growth fund manager Stephen
Whittaker will take over the management of the property unit trustís
Gianluca Giardina has been hired as fund manager
to Baring Asset Management's pan European small and mid cap team.
Giardina joins from Fidelity Investments and will be responsible for
analysing European, particularly German, stocks.
Morley has added two more members to its fixed
income team. Stephen Lee joins as credit portfolio manager with
Miles Tym, who will be responsible for the management of gilt funds.
Former Framlington manager David Mitchinson is
replacing Mark Wood on the JPMorgan Fleming Japan fund. Mitcinson is
moving to Japan in September and will formally take over the fund in
October. Wood will manage institutional and other mandates,
including the yen denominated JF Japan fund.
Morley has appointed Simon Clements as portfolio
constructor in its global equities team. The newly created role is
to ensure that the team, led by Michael Jennings, adheres to its
benchmarks without changing style.
Morley has also added two managers to its UK
equity team, Martin Cawthorne and Lloyd Whitworth. The core team
helps to run Norwich Union's with profits and unit linked funds.
Bob Yerbury is to combine the roles of chief
executive and chief investment officer at Invesco Perpetual while
still retaining some fund management responsibilities. No word yet
on replacements for those areas where he does relinquish fund
Manager of the Baillie Gifford Japan fund, Anja
Balfour, is to replace David Mitchinson at Framlington following his
move to JPMorgan Fleming Asset Management. It is understood that
Hamish Dingwall will become lead manager on the Baillie Gifford
fund, replacing Balfour when she leaves in September.
Former Close Investment manager Justin Jordan has
rejoined the company. Jordan, who left Close in 2001 has since had
spells as Old Mutual and Octopus Asset Management.
James Buckley has been appointed manager of the
Premier European Growth fund, which is currently outsourced to BNP
Paribas. Buckley will be employed directly by Premier and work put
of the companies Guildford HQ. Prior to this Buckley was manager of
the Solus European Growth fund, but left in December 200 when the
fund was wound up.
JPMorgan Fleming have made in house appointments
to replace Peter Harrison following his move to Deutsche Asset
Management. The JPMorgan Fleming Overseas Investment Trust will be
managed by Ed Walker. The JPMorgan Fleming Worldwide Income
Investment Trust will be managed by Keith Swadey.
Merrill Lynch Investment Managers have has
appointed Prudential fixed income director Andrew Belshaw as
sterling bond manager and director on the MLIM sterling bond team.
Foster, head of credit and manager of the
Bond and Extra Income funds at Isis is to take a 10 week sabbatical.
While he is away the two funds will be run by
with Alex Ralph as deputy. Luis currently manages the Isis
Maximum Income Bond fund as well as all the groups high yield
Former Newton Oriental fund manager Ezra Sun is to join Veritas, the
boutique group established in part by Newton founder Stewart Newton.
Newton last week appointed Jason Pidcock to run its Far East ex
Japan team and manage the Oriental fund and Mellon Asia Equity
Portfolio. Pidcock joins from BP Investment Management.
It is now confirmed that Rodney Reid has left Quilter following
Neptune's recent acquisition of the business. The UK Smaller
Companies fund will be managed by Neptune's managing director and
chief investment officer, Robin Geffen.
Former Phoenix VCT manager Justin Jordan has joined Close
Investmentís Aim fund management team from Octopus Asset Management.
Jordan previously worked at Close between 1998 and 2001 before
leaving to run smaller companies money at Old Mutual and then
The management of Peter Harrisonís two JPMorgan Fleming investment
trusts has been filled by two in-house appointees following his move
to Deutsche Asset Management. The JPMorgan Fleming Overseas
Investment Trust is to be managed by Harrisonís former right hand
man, Ed Walker, and the split-cap JPMorgan Fleming Worldwide Income
Investment Trust has been handed to Keith Swadey, a strategy adviser
for the trust over the past seven years.
Legal & General Japanese Trust manager Andrew Nagele is
relinquishing his day to day duties on the fund in order to run a
long/short Japan hedge fund. The number two manager Alan Booker is
to assume control in addition to his duties as manager of the Far
Eastern unit trust.
Invesco Perpetual fund manager Graham Kitchen is leaving the group
at the end of the summer. Kitchen has handed over the management of
the Income & Growth portfolio to deputy manager Andy Jones while his
UK Equity portfolio has been passed to Martin Walker. Kitchen also
managed the Key Trends fund, the future of which Invesco are now
thought to be reviewing.
Roger Sadewsky, former vice president at JP Morgan Securities, has
joined Standard Life Investments as investment director - fixed
interest with effect from 02 August.
Peter Harrison has joined Deutsche Asset Management as its Europe
and Asia Pacific chief investment officer. He joins from JP Morgan
Fleming Asset Management and replaces Karl Sternberg who is leaving
the group at the end of August.
Following the sale of the Quilter Global Growth and Global Income
funds to Neptune Investment Management last month they will no
longer be run by current manager Derek Larcombe. It is not clear at
the moment who will run the funds, and there is also uncertainty
about the future role of Rodney Reid, manager of the Quilter Smaller
Companies and Private Growth Portfolio following their sale to
The former Investec manager Paul Brain is to take over the
management of the Newton European High Yield Bond fund with the
current manager, Michael Micko, leaving the group. Brain will also
be co-manager of the High Yield Bond fund alongside current manager
Five of Investec's UK and global fund managers have left the group
following a pay dispute. Those leaving include Jeremy Rigg, manager
of the UK Blue Chip fund, Jeremy Mottram, manager of the Global Free
Enterprise fund, UK Opportunities manager Michael Rimmer and
analysts Chris Carter and Nigel Dutson.
Insight's US Select Opportunities fund has its third manager in as
many months. Lead manager is now Louise Keeling following the
departure of Scott Irving from the group. Keeling retains the
management of the US Equity fund.
Kirsteen Morrison has left her position as manager of the Henderson
Ethical and Henderson Global Care Growth & Income funds. The group
is currently seeking a replacement manager.
It is reported that Kirsteen Morrison has left her position as
manager of the Henderson Ethical fund at Henderson Global Investors.
Henderson have not as yet commented but are understood to be looking
for a replacement.
Anna Lees-Jones has taken over the management of
the Investec Sterling Bond fund from current manager Michael
Markham. Markham, now alternative manager on the portfolio,
continues to run the Monthly High Income fund.
Former head of international equities at Gartmore,
Richard Wilson, has taken up the newly created role of head of pan
European equities at Foreign & Colonial.
Maria Polycarpou and Silvia Wendlinger have
resigned as managers of the Baring Europe Select fund. It is
believed that they are both set to join the London offices of a
European Bancassurer in the near future. Barings head of European
small and mid caps Susannah Lloyd has taken over as caretaker
manager of the fund.
Margaret McLaren, investment director of European
equities at Britannic Asset Management, is leaving the company as
part of a restructuring process. Peter Reid, currently overall chief
investment officer (CIO) will become CIO of UK equities. Andrea
McNee will become CIO of international equities. Joe McKenna become
CIO of global fixed interest and James Smith becomes CIO of
specialist funds. All the CIO's will report directly to Gavin
Stewart, the Britannic chief executive.
Morley Fund Management has announced a major
overhaul of its UK retail business which sees its UK equities
division split into a number of components and heralds the departure
of a number of key staff. Current head of pan European equities Mike
Bishop is leaving, along with head of research Sophie Blanpain and
head of dealing Martin Ekers. The newly formed UK specialist unit
will be headed by David Lis. Lloyd Whitworth joins Morley from
JPMorgan Fleming where he was a UK and pan European fund manager.
Jimmy Burns, manager of the First State European
Smaller companies fund, is to leave the group at the end of this
month. Head of pan-European equities and current deputy manager John
Ewatt will assume management of the First State portfolio.
Iain Scotland, the former head of smaller
companies at Insight Investment, has joined Principal Investment
Management as part of its managed funds team. Scotland will work
alongside head of managed funds Charles Brand on constructing client
portfolios and contributing to research.
Former M&G fund manager Sam Morse has returned to
his previous employer Fidelity after seven years to take up the role
of head of institutional UK investment. Manager of the Growth and
Strategic Growth funds while at M&G, Morse left last September as a
result of a strategic review by head of equity investment David
Standard Life Investments has added to its US
equity team with the appointment of Jeffrey Morris as vice
president, senior investment analyst, financials. Morris was
previously a portfolio manager at Invesco Funds Group in Denver.
Federico Wynne leaves Goldman Sachs, where he was
a pan European financial sector analyst, to join Morley Fund
Management where he will work as an investment analyst covering the
John Pullar-Strecker has reportedly left New Star
Asset Management after a prolonged period of sick leave. Deputy
chief investment officer Mark Beale has been appointed lead manager
on the New Star Technology fund. Beale also runs New Star's North
American and Global Equity funds. Stand in manager Neil Campling
will continue to be involved in the running of the Technology fund
with Hitesh Thakrar also joining the team from Morley next month.
Denis Wyles joins Britannic Asset Management as
an investment manager on its UK team. He joins from Aegon where he
was head of global cyclical research. Prior to this he was deputy
head of UK equities at SWIP.
It is reported that New York based Credit Suisse
Transatlantic fund manager Susan Everley is to step down by the end
of the year. Her successor is Hugh Neuburger and Everley will remain
with the group for the rest of the year to assist during the
MFS Investment Management has hired Chris
Jennings from Morgan Stanley Investment Management as an equity
research analyst. Jennings, who will initially cover the autos
sector, will be based in London and joins eight analysts who manage
the groupís team-based European equity products.
Standard Life Investments fund manager Amanda
Forsyth will no longer run any money for the group. Instead, she
will take on a communications role, helping the mutual establish
reporting procedures with the City ahead of its proposed
de-mutualisation. Forsyth gave up her UK Growth fund earlier this
year and will pass over her management responsibilities for the
groupís ethical funds on 31 May 2004. Lesley Duncan, investment
director of UK equities at SLI, is taking over as manager of UK
Ethical and the groupís two life and pension ethical funds.
Two managers have left Baring Asset Management
following recent restructuring. Andrew Neville leaves management of
the UK Smaller Companies Trust to join Allianz Dresdner and assist
Trevor Green in the management of the UK Mid Cap fund. Findlay
McLellan is made redundant as part of the restructure which sees the
pan European mid cap team fall under the management of Susannah
Lloyd, manager of the Baring Europe Trust. Baring UK Smaller
Companies will be managed by Malcolm Herring until a new appointment
Manish Kataria joins Canada Life to manage the
Far East fund following the departure of Sally Macdonald to Morley
Fund Management earlier in the year. Kataria joins from Merchant
Securities where he was a global analyst.
Chris Burling is taking over management of the
Gartmore's flagship Japanese fund following the departure of Nick
Reid to Rab Capital. Burling will manage the Japan Growth fund and
will also take over the Gartmore Sicav Japanese and Capital Strategy
funds, which are based offshore.
Anna Lees Jones, former manager of the M&G
Corporate Bond fund, has joined Investec in the role of senior
sterling portfolio manager. Andrew Farrell, formerly head of UK
fixed income at Invesco, has also joined in a similar role as
Investec seeks to strengthen its fixed interest team.
Following the departure of Anne Marie Main, Matt
Harris has been promoted to the head of the Japanese equity desk at
Scottish Widows Investment Partnership. Harris has been with SWIP
David Lynch joins Investec as a UK equities
analyst alongside Alastair Mundy and team on the Cautious Managed
and Managed Distribution funds. Additionally he will support the
team running the UK Value fund and Temple Bar investment trust.
Lynch joins from Douglas Deakin Young.
JP Morgan Fleming is replacing Garrett Fish as
lead manager of the JPMF US fund. Fish will be replaced by Silvio
Tarca, joint manager of the Luxembourg domiciled JPMF US Dynamic
fund. Fish will remain with the company.
Errol Francis, a former Barings fund manager, has
taken over the Credit Suisse UK Growth and Income fund.
Old Mutual Asset Management fund manager David
Ross is reportedly leaving the group. Ross, who is lead manager on
the European, UK and North American equity portfolios will leave
within the next six months along with a further 3 members of his
Standard Life UK Equity Growth manager Amanda
Forsyth has relinquished management of the fund in order to focus on
the group's ethical portfolios. She is replaced by Karen Robertson
who currently manages the UK Equity High Income fund.
Japan fund manager David Mitchinson is to leave
Framlington to join JP Morgan Fleming. He will manage the fund until
the end of July, with Framlington saying it will find a suitable
replacement by then. His number two, Jonathan Asante, will continue
alongside Mitchinson during his notice period. Mitchinson is to join
JPMF and will be based in Tokyo though he will not be running a fund
available in the UK, taking control instead of the Hong
Kong-domiciled Jardine Fleming Japan fund which is available to
A former Invesco manager is joining Morley. Robin
West joins to manage the Norwich UK Smaller Companies fund.
Newton Oriental fund manager Ezra Sun is leaving
the company to join a smaller boutique company. The fund will be
overseen by Jeff Munroe until Sun leaves during which period Newton
will be looking for a replacement.
David Lynch has joined Investec as a UK equities
analyst. He will be working alongside Alastair Mundy and his team on
the Cautious Managed and the Managed Distribution funds.
Standard Life Investments (SLI) has appointed
Aaron Pong as an investment director focusing on China. Based in
Hong Kong, Pong will report to Elizabeth Soon, who is in charge of
investment for the Asia Pacific region. Prior to joining SLI, Pong
worked at the Royal Bank of Canada Investment Management (Asia),
where he was senior portfolio manager responsible for management of
non-Japan Asia regional portfolios.
Hitesh Thakrar has joined New Star as a
technology analyst from Morley Asset Management. He joins New Star
during the summer, with his appointment being made due to the
indefinite break being taken by John Pullar-Strecker because of
Edoardo Mercadante, current manager of the MLIIF
European Opportunities fund and head of the European specialist
equity team is leaving after some 11 years with the group. He is
replaced by Carl Lee, previously manager of the MLIIF Global
Insight has made three appointments to its
property team. Algy Kent has joined the group as an assistant fund
manager on the industrial team, Robert OíHara as a senior director
running four client portfolios and Ailish Christian as as associate
director within the retail team.
Gordon MacKay has joined Britannic Asset
Management as part of the Far East team. He will report to Andrea
McNee and previously worked as a US equity manager at Abbey National
Geoff Patton is leaving Abbey National Asset
Management to join Henderson Global Investors. Patton, head of North
American equities at Abbey since 1992 joins Henderson in August,
where he will work with Stuart Gorman and other members of the
technology team. Patton also managed the Abbey National Technology
Unit Trust and the Scottish Mutual International Technology fund.
Merrill Lynch has dispensed with its US
investment team less than one year after it was relocated from the
UK to new offices in the US. The five man team was headed by Richard
Boon who managed the Merrill Lynch American fund. While Merrill
Lynch is looking at the possibility of relocating the analysts to
another part of its operation, CIO Bob Doll has taken over the
management of the fund with immediate effect along with two offshore
accounts previously managed by Boon. Boon has been replaced by Kurt
Schansinger on a number of institutional mandates.
Neil Pegrum is leaving Insight Investments just
over a year after he joined, departing to Cazenove which is
relaunching its UK focus fund for him to run. Pegrum arrived at
Insight from M&G in January last year, taking control of its UK
dynamic and UK discretionary funds. He will be replaced with
immediate effect by Andy Cawker, his deputy fund manager on both
funds, who will run them as an interim measure until a permanent
replacement is found.
Alan Stokes, head of multi manager, and Simon
Brooks, senior fund manager, have both left Solus following its
decision to move the management of its funds of funds (Fofs)
business to its Manchester office. The group claimed the move is
part of a general strategy to move the management of the three Fofs
Ė MultiManager Balanced, Growth and International closer to its
investment policy committee, which is based in Manchester. Head of
the investment policy committee Kevin Doran will take over the
running of the portfolios.
Invesco Perpetualís Latin American portfolio has
been taken over by Dean Newman following the departure of David
Manuel to run his own hedge fund. Manuelís responsibilities within
the global emerging markets team have passed to Kathryn Langridge.
Tom Joy has been named as the chief investment
officer of multi manager firm RMB International. Joy has been with
RMB International since 2003 when he joined as head of portfolio
research. Prior to that he was head of investment for Schroder's
multi manager product. Current RMB CIO James Stuart-Smith becomes
head of strategic development.
The New Star Technology fund is currently being
run by Neil Campling, rather than by the named manager John
Pullar-Strecker who has been on sick leave for several months. There
is no certainty about when Pullar-Strecker will return to work
though New Star have confirmed that he is still employed by the
Clive Beagles is to head up JO Hambro Capital
Managementís first onshore fund offering, an income portfolio to be
launched in October. Beagles is to join the boutique in the autumn,
following six monthsí gardening leave from Newton, unless a shorter
period can be negotiated between the two groups. With immediate
effect, Tineke Frikkee, the alternate manager of Newton Higher
Income, has taken over the Higher Income fund and Simon Nichols has
stepped into the role of alternate manager. Frikkee has been part of
the income team at Newton since 1998 and manages the offshore
equivalent fund, Mellon Global Funds UK Equity portfolio.
Co-manager of the Lazard UK Alpha fund, Simon
Roberts, has left the group to join hedge fund boutique Bluecrest
Capital. Roberts had run the fund with Tony Willis since launch in
November 1999, having joined the group in the previous April.
Before, he held positions at both Fidelity and Schroders. Willis
will take the helm as lead manager and will continue to be supported
by Gabrielle Boyle, along with new recruit Alan Custis, who joined
from JP Morgan earlier this month.
Old Mutual Asset Managers has hired Theresa Egan
from Newton as part of its expansion of its fixed income team. Egan
previously ran Newtonís High Yield Bond fund, and will not
immediately be given a portfolio to manage at Old Mutual but the
firm said it is looking to launch additional fixed interest funds
later this year which will utilise her skills. Replacing her on
Newton High Yield is Michael Micko and Howard Cunningham.
Chris Baggini is to take over the management of
the Gartmore American Focus fund from head of US equities at the
group, Simon Melluish. Baggini also manages the Gartmore US Growth
Leaders fund which has a similar mandate to American Focus and is
offered to the North American market.
Allison Larkin is stepping down as manager of the
Schroder Medical Discovery fund to be replaced by John Bowler who
joined from AXA last year. Handover of the fund takes place on 31
March and Larkin will continue her role as an analyst for US
More from Schroder, with Adam Cordery being
confirmed as manager of the Corporate Bond and Monthly High Income
funds. Cordery was formerly at Invesco.
Michael Willis has joined Isis Asset Management
as director, small-cap funds. Based in the groupís Edinburgh office,
he will be assisting Stephen Grant, director of small-cap
institutional funds, on the Ivory & Sime UK Smaller Companies
investment trust. Prior to joining Isis he was at Bell Lawrie White
Axa Investment Management have recruited two new
managers to their fixed income team. Gareth Isaac and Jamie Grant
join from Newton Investment Management and the Commonwealth Bank of
Australia respectively. Both will report to the UK head of fixed
income Denis Gould.
Grant Cowley assumes management of the Schroders
North American fund from next month.
Zanny Perring leaves Threadneedle at the end of
the month after more than seven years on their US desk. Control of
the American Growth fund will pass to Andrew Holliman, with
management of the American Smaller Companies fund passing to Robert
Graham Brown. Brown will also assume Perring's role as assistant
manager on the American Select Growth fund.
Craig Grippe joins Canada Life as a replacement
for Michael Gifford on their High Income and Income funds. Rippe
joins Canada Life from Govett. Gifford left to join ISIS at the
start of the year.
Gil Knight will be lead manager on two of the
funds run by Gartmoreís revamped US desk. Knight retains control of
the Gartmore Govett US Opportunities fund, which will drop the
Govett name on 28 May, and take over the American Smaller Companies
fund . Former manager Nick Ford will work alongside Knight in the
groupís Philadelphia offices. Gartmore American Opportunities will
be rebadged US Growth and repositioned as a core large-cap
portfolio. The fund will continue to be run by Simon Melluish, but
he will be joined by co-manager Bill Miller from parent group
Nationwide. Melluish is relinquishing control of the £2m American
Focus fund to Chris Baggini.
Steven Maxwell has joined the European equities
team at Scottish Widows Investment Partnership. Formerly of Standard
Life Investments, he will be responsible for the European financials
sector and will report to head of European equities Nigel Bolton.
Management of the SG Asset Management American
Growth fund is being transferred to their Los Angeles based sister
company TCW. Current fund manager, Alan Torry, remains at SG and
remains management of the institutional SG US Equity fund.
Baring Asset Management have hired Vincent Lee as
senior investment manager in their Asia team. Lee leaves a similar
position at Friends Ivory & Sime Asia. Lee will report to head of
Asian equities Khiem Do and will concentrate on Korean stocks.
Canada Life American fund manager Alan Richenberg
is leaving the company at the end of February. It is not thought
that he will be replaced, with Canada Life currently undergoing a
Upkar Kambo has joined Morley Fund Management as
a fixed income quantitative analyst. He joins from UBS Global Asset
Management and will report to head of fixed income, Ceris Williams.
Tom Caddick has joined Isis as a fund of funds
analyst. He was previously an investment manager at Nevile Merriam
Investment Management. At Isis he will assist Richard Philbin in the
management of the group's multi manager portfolios.
Skandia Investment Management's chief investment
officer Clive Hale has resigned. His replacement will be Alan
Durrant, the former investment director at Hargreaves Lansdown.
Bevis Coma, a member of the UK specialist team
managing the offshore version of the company's UK Dynamic fund, has
left Merrill Lynch Investment Management.
Donald Farquaharson is to take over the
management of the Schroder Japan Growth Investment Trust following
the earlier announcement of current manager Dennis Clough's leave of
Jeremy Hall has joined SVM Asset Management as a
pan-European analyst. Hall was previously investment manager of
European equities at Abbey National Asset Managers.
Robert James has joined Insight Investments from
Baring Asset Management. James was director of UK & Eurpean equities
at Baring's and joins Insight's research team as an equity analyst.
Fiona Dickinson has joined Standard Life
Investments as an investment director on the fixed interest desk.
She will be responsible for researching and extending coverage of
the companyís structured debt investments. Previously, she was a
finance rating associate at Standard & Poorís.
Richard Baldwin has joined Gartmore as a senior
research analyst on the fixed income team, and joins from the Royal
Bank of Canada.
Former head of UK equities at Clerical Medical
and Insight, Simon Shaw, has joined investment boutique Epic to run
its UK Equity and specialist Insurance & General funds.
Andrew Koch is to join Henderson Global Investors
to run the groupís European fund. Koch will replace Ben Elwes, who
left Hendersons last week, as manager of the European portfolio.
Koch is to join Hendersons on 19 April. He was previously at HSBC
Asset Management, where he was a senior fund manager on the European
Russell Oxley has been appointed as an investment
manager on Britannic Asset Management's fixed interest team, and
lead manager of their gilts portfolio. Oxley joins from Swiss Re
where he was a fixed income fund manager.
Former Legg Mason UK Emerging Growth fund manager
John Johnston has left the group.
Management of the Close Finsbury Japanese Equity
fund will be taken over by Michael Lindsell following the
termination of the group's contract with former manage Scott
Schroder Tokyo fund manager Dennis Clough will
not return to manage the fund when he returns from a planned
sabbatical in 2006. Clough is due to take a leave of absence from
Schroder's in May, but the fund will be handed over to Andrew Rose a
month earlier in April, with Schroder's confirming that the
appointment will be permanent.
Sean Taylor joins GAM as investment director from
SG Asset Management where he was head of global equity and head of
the emerging markets desk.
Former Aisa Pacific manager at Canada Life, Sally
Macdonald, is set to join Morley Fund Management in March. She will
manage Asian Pacific equities for Aviva funds, the group's Sicav, as
well as the Asian Pacific element of its balanced funds. She will
report to Niaoo Paul, head of emerging markets equities.
Number two manager on the Artemis European Growth
fund, Peter Saacke, has assumed the management of the group's Global
Growth fund. The fund had been managed since launch in 1990 under
contract by Edward Niehoff in ABN Amro's Amsterdam office.
Managers of the Investec European fund, BlackRock,
have hired Ian John from Talorcan to strengthen its European equity
team, headed by fund manager Albert Morillo. John will be
responsible for a variety of sectors in the team including banks,
leisure, media and retailing.
Head of European equities at Schroders, Mark
Pignatelli, is leaving the group by mutual consent. Pignatelli will
leave when his contract runs out in April. His responsibilities will
be assumed at that time by the groupís head of global equities Ken
Beatrice Rodriguez is a further addition to the
Fidelity fixed interest desk. Previously with Deutsche Bank,
Rodriguez will work on Fidelity's money market and short dated bond
It is reported that Japan fund manager Scott
McGlashan is leaving boutique investment group Jade Absolute in
order to join JO Hambro Capital Management. McGlashan also manages
the Close Finsbury Japanese Equity portfolio, and prior to
establishing Jade Absolute in 2000 was a manager with Perpetual.
Gartmore has added a further three staff to its
US Equity team. Gary Haubold, Bill Gerlach and Chuck Purcell join as
senior portfolio managers and new funds will be launched for them to
manage. The three will focus on small and mid caps, reporting to
chief investment officer of equities Young Chin. Until recently
Haubold managed an equity hedge fund at Edge Capital Management,
while Gerlach and Purcell join from MAS, which was recently acquired
by Morgan Stanley.
Joe Andrews has joined Fidelity as an analyst on
the groups fixed income team. Andrews was previously with Bank of
Former Invesco Perpetual European Growth fund
manager Alister Hibbert has left the group. Hibbert took over the
fund from Rory Powe in December 2001 and was subsequently replaced
on the portfolio by former Aberdeen manager Stephanie Gerrard in
August 2003. Subsequently Hibbert ran the offshore Invesco GT
Pan-European and GT Continental European funds, along with various
institutional mandates. John Surplice is to take on GT Pan European
while Dominic Wallington will assume responsibility for GT
Continental European and the institutional portfolios.
Framlington is thinking ahead to the retirement
of Antony Milford by appointing two co-managers on his onshore
portfolios. Although Milford has no immediate retirement plans,
Deane Donnigan becomes co-manager of the Health fund and Gareth
Powell becomes co-manager of the Biotech fund. Casper Rock becomes
co-manager of the offshore Luxembourg Health fund.
Isis Asset Management has strengthened its credit
analysis team with the appointment of Holly Barton. Barton, who was
previously with Barings, will take the lead on retailers and food
F&C Management have appointed Kevin Matthews as
head of high yield bond. Mathews joins from Gulf International Bank
where he was head of high yield.
Old Mutual Asset Management has appointed Terry
Ewing and Ann Hall to co-manage an equity long/short hedge fund the
group plans to launch later this year. Ewing was previously manager
of the Britannic American Growth fund, Hall was responsible for the
Henderson American Smaller Companies portfolio.
Mark Burgess is to join Insight Investment as
head of equities in March this year. He will join from American
Express Asset Management where he was chief investment officer.
One of the longest serving retail fund managers
is relinquishing the management of his fund. William Claxton-Smith
is passing control of Insight Investment's Equity High Income fund
to deputy manager Tim Rees. Rees is also the manager of the Monthly
It is reported that Anthony Bolton will stay with
Fidelity past 2005 and continue to run the Special Situations fund.
This is in contrast to the statement made by Bolton two years ago,
where he indicated that 2004 would be his final year.
David Currie, former head of US equities at
Edinburgh Fund Managers, has joined ISIS Asset Management as head of
the North American desk. He takes over from Andrew Hudson and will
assume control of the ISIS North America fund. Hudson is thought to
be leaving ISIS.
Phillip Dicken joins Threadneedle Investments as
an analyst on its European smaller companies team. Dicken was
previously with Active Value Advisors where he worked as a European
Adrian Bignell has joined Invesco Perpetual to
manage the European Smaller Companies fund. The previous manger,
Tamsin Faiers left the group at the end of last year and worked with
Bignall prior to leaving in order to ensure a smooth handover.
Bignell also assumes control of the Invesco GT Continental European
Enterprise and Invesco GT Pan European Enterprise funds. Bignell was
previously vice head of the European equities team at Cazenove
Britannic's corporate bond fund manager, David
Roberts, is reported to be joining Aegon Asset Management some time
after March 2004 as head of retail fixed income. He will also be the
lead manager on the Aegon Extra Income fund and replaces Steve
Snowden who left in December 2003 to join Old Mutual as replacement
for Richard Woolnough who joined M&G.