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You're hired! 20 top wealth and fund moves in June

The UK was hit by both a heatwave and an investment management hiring wave in June.

Baillie Gifford loses manager after blockbuster trust launch

Baillie Gifford suffered a blow a few days after its blockbuster US trust launch, with one of the fund's three-strong management team quitting. 

Andrei Kiselev (pictured right), who co-managed the US Growth trust alongside Gary Robinson and Helen Xiong, left the firm just six days after the trust officially launched. according to the Financial Conduct Authority register. 

Baillie Gifford confirmed the departure and said it would not be replacing him. The company did not provide any further details on the circumstances of his exit.

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Baillie Gifford loses manager after blockbuster trust launch

Baillie Gifford suffered a blow a few days after its blockbuster US trust launch, with one of the fund's three-strong management team quitting. 

Andrei Kiselev (pictured right), who co-managed the US Growth trust alongside Gary Robinson and Helen Xiong, left the firm just six days after the trust officially launched. according to the Financial Conduct Authority register. 

Baillie Gifford confirmed the departure and said it would not be replacing him. The company did not provide any further details on the circumstances of his exit.

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Raymond James attracts more Charles Stanley refugees

The trend for former Charles Stanley wealth managers to set up shop with Raymond James continues. 

In the latest deal, the firm, which partners with wealth managers to set up their own practices, signed ex-Charles Stanley duo Robert Skepper and Will Bancroft to open a London office. 

Raymond James has attracted a number of Charles Stanley alumnus to its roster after signing the private client stockbroker's former investment chief, Anthony Scott, as head of propositions last June and later partnering with ex-Charles Stanley investment manager Edward Rust.

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Rathbones’ Top 100 fund research head to depart

Rathbones’ head of fund research Mona Shah is set to depart after more than 10 years at the firm.

Shah (pictured), a Citywire Top 100 stalwart, had been responsible for fund selection and due diligence across the firm’s long-only and alternative strategies.

She also sat on Rathbones’ collectives research and strategic asset allocation committees, and assisted with the management of Rathbones’ multi-asset portfolios.

Alex Moore, a research analyst who joined the business from the British Steel Pension Fund in 2015, will take over as head of collectives research in July. He will report to Elizabeth Savage, who is head of research.

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French fund giant hires SLI veteran to open London shop

French fund giant Comgest has hired an Aberdeen Standard Investments (ASI) veteran to spearhead its push into London.

Iain MacPherson, who joined Standard Life Investments in 2009, becomes the Paris-based firm's first UK employee in its new office in Mayfair. 

MacPherson (pictured) joins the firm's investor relations team, working alongside Comgest country head Jane Russell to develop Comgest's presence across the UK wholesale market.

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Schroders hires ex-Tilney CEO Peter Hall as wealth head

Schroders has appointed former Tilney chief executive Peter Hall as global head of wealth management.

Hall, a former Wealth Manager cover star, stepped down from Tilney last October after seven years at the helm.

He went on to take a post with Tilney parent Permira, where he helped the private equity firm pursue wealth opportunities. His 20 years of experience includes earlier management roles at UBS and Barclays

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River and Mercantile hires ex-Australian rugby international

River and Mercantile hired former Australian rugby international Tim Horan. 

Horan (pictured), who won 80 test caps after making his debut for the Wallabies in 1989, was appointed managing director of R&M's new Australia and New Zealand arm. 

He began his career in finance following his retirement at the turn of century, most recently serving as an executive for Australian bank Westpac. 

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Tony Yarrow hands Schroders' Buxton replacement fresh chance

Wise Funds, the investment management firm set up by Tony Yarrow (pictured), has hired former Jupiter star Philip Matthews from Schroders.

Matthews joined Schroders in 2013 as a replacement for Richard Buxton, with the-then Citywire AAA-rated manager taking over the Schroder UK Alpha Plus fund, which had £3.5 billion in assets under management at the time.

But after several years of underperformance versus peers, control of the fund was given to Janus Henderson recruits Bill Casey and Nick Kissack in January this year.

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Polar Capital hires Nordea $6bn man to lead new 5-strong EM team

Polar Capital has raided Nordea Asset Management to establish a new five-strong emerging markets team.

Four of the new team join from the Scandinavian fund giant, including Jorry Rask Nøddekær (pictured), who becomes head of the EM and Asian team at Polar.

Three of Nøddekær’s Nordea team, Michael Wang, Jerry Wu and Peter Andersen, have followed him to Polar, with Wang and Wu joining as fund managers and Andersen as an analyst.

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Axa IM global fixed income head steps down amid restructure

John Porter, Axa Investment Managers’ former global head of fixed income and structured finance,  is stepping down from its management board and leaving the firm.

His move comes amid a planned restructure, which could be completed by the end of the year, in which around 10% of Axa Investment Managers’ UK workforce could be under threat.

Andrea Rossi (pictured), CEO of Axa IM, said: ‘I believe the steps we are looking to take not only respond to our industry challenges in terms of customer centricity but also provide AXA IM with an inspiring vision and roadmap for the future.'

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Boutique rehires Tilney investment manager

Boutique wealth firm McCarthy Taylor has rehired Joe Goddard-Howe as a financial planner and discretionary fund manager.

Goddard-Howe joins the firm from Tilney where he has worked for the past two years, most recently as an investment manager.

Prior to that, he worked for PwC for two years including as a manager in its Birmingham office, beginning his is career in finance at McCarthy Taylor in 2013 as a trainee para planner.

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Aussie boutique hires seven as it gears up for UK growth

Australian global equity boutique Antipodes Partners has hired seven staff to spearhead a planned expansion in Britain. 

In London, Ben Turner has been hired to manage Antipodes Partners’ dealing function, while Nick Keem and Ben Cossey were appointed as directors at local distribution partners - and minority owner of Antipodes - Pinnacle Investment Management. 

Andrew Findlay has additionally joined as managing director to oversee the group’s local business activities.

The business also brought in investment analyst Aidan Kerr to cover the global healthcare sector and Vinayak Muralidharan to the global financial and infrastructure sectors, as well as Kieran Rabbitt who is tasked with the portfolios analytics and systems development.

They will be based in Australia but will work on the Ucits strategies available in the UK.

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Saranac bolsters team with family office hire

Saranac Partners has boosted its ranks with the hire of Christophe Savinas as an investment adviser.

He sits on Saranac’s advisory investment team, headed by Brent Seery. He joined from NNS Advisers, a London-based family office where he worked as an investment strategist.

Prior to this, he was a fixed income portfolio manager at Ikano Asset Management – set up by the Kamprad family, which founded Ikea.

He also formerly managed fixed income portfolios at Société Générale Private Bank in Luxembourg.

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Canaccord hires senior wealth duo for Channel Islands

Canaccord Genuity Wealth Management has hired Michael Caetano and Jason Robilliard as investment directors in the Channel Islands. 

Caetano will be based in Jersey and joins the firm from Brooks Macdonald. Robilliard, based in Guernsey, previously worked at ABN Amro Asset Management. 

David Esfandi (pictured), chief executive officer of CGWM, said: '[Caetano and Robilliard] will both bring a valuable depth of expertise to our teams and clients while being able to leverage the breadth and depth of insight from our central investment office.'

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Veritas hires former co-manager of £5.3bn Newton income fund

A boutique asset management firm set up by a group of Newton alumni has poached a fund manager from its old firm. 

Wealth Manager understands Ian Clark is to become a partner of Veritas Asset Management at the end of August after he finishes his notice period at the BNY Mellon subsidiary.

Up until last month, Clark was the co-lead manager on the £5.3 billion Newton Global Income fund alongside Nick Clay.

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Bonham Carter joins Netwealth's board

Online investment manager Netwealth has appointed Jupiter vice chair Edward Bonham Carter and MoneyWeek editor-in-chief Merryn Somerset Webb as non-executive directors.

The pair both participated in Netwealth’s initial £6.5 million fundraising ahead of its launch in May 2016.

They take the company’s non-executive director headcount up to three, with fellow investor and Leonteq co-founder Michael Hartweg also on the board.

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Goldman Sachs AM hires Source founder for Europe ETF push

Goldman Sachs Asset Management (GSAM) has hired Source founder Peter Thompson to head its European exchanged traded fund (ETF) business.

Before launching Source in 2009, Thompson (pictured) spent a decade in Goldmans' derivative and trading divisions in the US, Japan, and Europe. 

At Goldmans, Thompson will be based in London, reporting to Michael Crinieri, head of its ETF business, an internal memo reported.

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Six in and three out in Aviva multi-asset restructure

Aviva Investors has hired six managers as three exited amid a  restructure of its multi-asset team.

The reshuffle saw global head of fixed income Dan James, Brendan Walsh and Gavin Counsell leave the business.

However, the firm also made a string of hires to complement the change.

Joiners include Mark Robertson as head of multi-strategy funds, multi-asset portfolio manager Kevin O’Nolan, multi-asset manager Guillaume Paillatas, derivatives trading specialist Patrick Bartholet, multi-asset strategist Katarina Cohrs, and fixed income and currency specialist David Nowakowski.

Former multi-asset head Peter Fitzgerald (pictured) has been appointed chief investment officer to head the newly combined multi-asset and macro business.

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Top team exits OMGI in absolute return overhaul

A top performing Old Mutual Global Investors (OMGI) team will leave the business after it announced plans to merge its Absolute Return Government Bond fund into its Strategic Absolute Return Bond fund.

The proposed merger, which follows a review of the business’s absolute return fixed income capabilities, is scheduled to take place on 27 July 2018, subject to shareholder approval.

Following the proposed merger, co-heads of the absolute return government bond fund, Adam Purzitsky (pictured) and Paul Shanta, and three further members of the fund’s team, will be leaving the firm to pursue other opportunities.

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Standard Life Aberdeen bolsters board with fintech specialist

Standard Life Aberdeen (SLA) added fintech specialist Cathleen Raffaeli to its board. 

Raffaeli, who is currently managing partner at Hamilton White Group and Soho Venture Partners, will become a non-executive director for the business on 1 August 2018. 

Following the appointment, the board of SLA – which is co-headed by Martin Gilbert (pictured left) and Keith Skeoch (right) – will comprise four executive directors and nine non-executive directors, alongside chair Sir Gerry Grimstone.

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Schroders' Steve Cordell calls time on 25-year fund career

Schroders fund manager Steve Cordell is set to leave the firm to ‘pursue opportunities outside of the industry’.

Cordell (pictured) joined Schroders as part of its takeover of Cazenove Capital in July 2013. He will remain with the company until the start of Q3 and will work closely with the team to ensure a smooth handover of his responsibilities.

Cordell currently manages four European equity mandates.

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