Royal London Asset Management has hired a global equities team from Waverton Investment Management with the aim of launching a new proposition in 2017.
Peter Rutter, who was head of global equities at Waverton, will lead the new team, reporting into Royal London’s chief investment officer Piers Hillier. Rutter's colleagues, James Clarke and William Kenney also made the switch, becoming senior fund managers.
At Waverton the trio managed the Global Equity fund. The company has not yet named replacements on who will take over the management.
They will however continue to manage the Waverton Global Core Equity fund on an outsourced basis, as well as the Ironbark Royal London Concentrated Global Share fund—distributed by Ironbark to Australian investors.
Prior to Waverton, Rutter (pictured) was a partner at IronBridge Capital Management. He joined Waverton in 2012. Previously he also worked in Deutsche Asset Management’s global equities team.
Clarke and Kenney also previously worked at Deutsche Asset Management. Clarke was a partner at IronBridge Capital and Kenney was a partner at Spencer House Capital Management before they both joined Waverton.
‘We are thrilled to have Peter, James and William on board and to see Royal London’s equity capabilities expand,’ said Hillier.
‘We boosted our UK equity capability last year, through the hires of Richard Marwood and Henry Lowson and look forward to meeting clients’ demand for global equity products this year.’
Rutter: ‘We’re really pleased to be joining Royal London and its expanding equity team. This gives us the opportunity to combine our experience, approach and insights into global equities with Royal London’s strong distribution capability, both in the institutional and wholesale space.’
Rutter added he is happy to be maintaining relationships with Waverton and Ironbark going forward.