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Merian closes Edinburgh office after absolute return team exit

Merian Global Investors has closed its Edinburgh office following the departure of a top performing absolute return fixed income team last year

Merian closes Edinburgh office after absolute return team exit

Merian Global Investors has closed its Edinburgh office following the departure of a top performing absolute return fixed income team last year.

It is understood the decision was taken as Merian now has only three members of staff still based at the 10 Charlotte Square location.

A spokesperson for the firm said: ‘The employees currently located there are part of the distribution team, so are often travelling, therefore the office is no longer required.

‘Going forward, these employees will be home based.’

The closure follows the merger of the Merian (at the time part of Old Mutual) Absolute Return Government Bond fund into its Strategic Absolute Return Bond fund in July.

That saw the co-heads of the government bond fund, Adam Purzitsky and Paul Shanta, and three members of the team leave the firm.

Following the merger, Huw Davies, an investment director on the strategy, joined the wider fixed income team as investment director.

Vytaute Maciulskyte, one of the fund’s analysts, became an analyst for the Old Mutual Systematic Positive Skew fund.

The decision to shut the office also comes after Merian Global Investors chief executive Richard Buxton stepped down last month, to be replaced in the role by Mark Gregory.

Buxton, who remains with the business as head of UK equities, made the move  following Merian's management buyout from Old Mutual in June and its rebrand last autumn.

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