Manager Changes - December 2008 M&G Global Technology:
Cyrille Filottt, co-manager of the M&G Global Technology fund, has departed the group and responsibility will pass to Richard O’Connor, with Aled Smith remaining as deputy manager. M&G are seeking shareholder approval to merge the Global Technology fund into the Global Growth fund, managed by Greg Aldridge, in March 2009. The management structure of the new fund is yet to be announced.
Gartmore:
Karl Bergqwist, co-Head of Gartmore’s Fixed Interest team, and Ashley Willing, co-manager of the UK Focus fund, have been made redundant as part of Gartmore’s larger job shedding process. Gartmore has also announced Julian Hince and Simon Clark have been made redundant. Hince was the Head of Strategic Partners and Clark was the Head of Asset Manager Sales.
Old Mutual Fixed Interest:
Andrew Tunks, Head of Fixed Interest at Old Mutual, has been made redundant. Tunks was also the manager of the Dynamic Bond and Select funds. The group’s Chief Executive, Peter Baxter, will temporarily take over as Head of Fixed Interest and manager of the Select fund, whilst Chris Palmer will take over management of the Dynamic Bond fund.
Newton Fixed Income:
Stewart Cowley has left Newton, where he was the Head of Fixed Income, and will join Old Mutual Asset Management as Head of Fixed Interest and Macro in June 2009.
M&G International Sovereign Bond:
David Knee, manager of the M&G International Sovereign Bond fund, has left M&G and moved to a new position at Prudential, M&G’s parent company. Jim Leaviss, Head of Retail Fixed Interest, will take over from Knee with immediate effect, and as part of this change, Leaviss will step down from running the High Interest fund with Ben Lord succeeding him. Lord has been promoted from within M&G, where he has been a portfolio manager for the retail fixed interest team.
Baring Japan Equities:
Baring Asset Management is set to lose Joji Maki, Head of Japanese Equities, after relocating his team to London from Tokyo. Maki is the manager of the Japan Growth Trust fund but he is expected to depart in early 2009.
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