Manager Changes - October 2007 Schroder European
Denis Clough is to leave Schroders at the end of November. Clough is understood to want a complete break from fund management, and is not joining another group. He has run Schroder European for the last two years. Before this, he spent the majority of his career in Japan and was in the Far East for nearly 20 years, running the Schroder Tokyo fund. A replacement for Clough has yet to be announced.
Gartmore Multi-Manager
Gartmore has replaced departing multi-manager Marcus Brookes with Arbuthnot Latham's head of collectives Tony Lanning. Lanning joins early next month to replace Brookes, who has quit Gartmore to head up Cazenove's multi-manager division. Lanning spent six years as Director of Research and Investment at Origen before joining private bank Arbuthnot Latham.
Santander Asset Management Multi-Manager
Santander Asset Management (SAM) UK has poached Keith Speck from AXA to be its new Head of Multi-Manager. Speck will take charge of the firm's multi-manager business, which includes five Abbey funds and the Inscape portfolios. Previously Speck controlled the AXA Framlington Multi-Manager Growth fund, as well as the company's Multi-Manager Balanced fund and Multi-Manager Cautious Income fund.
Norwich UK Income Opportunities
Major changes expected on UK Income Opportunities after the designer of the process leaves for a new role in the Middle East. Dan Roberts has taken over the Norwich UK Income Opportunities fund after original manager Ian Lancaster left the group. Lancaster joined Morley's UK equity team last May, and brought his fund – then known as Elite MoneyGuru Income with Growth – with him.
Artemis UK Smaller Companies
Mark Niznik joined Artemis at the end of the month to work alongside John Dodd on the top-performing £666m Artemis UK Smaller Companies fund. Niznik began work at the group's Edinburgh office last week after six months' gardening leave from Standard Life. He will work alongside longstanding manager and Artemis co-founder John Dodd who has run the UK Smaller Companies since launch in 1998. Dodd also manages Artemis Alpha Trust and co-runs the group's two VCT products. Niznik was one of our preferred managers when he was managing the Standard Life UK Opportunities fund, and we will keep a watchful eye on this fund now that he is on board.
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