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The 10 biggest fund industry moves in November

Citywire Selector counts down the switches and changes that shook the market last month.

10. US equity manager exits LBPAM to join rival

Jean-Dominique Seta left La Banque Postale Asset Management to join Amundi’s thematic subsidiary CPR in a thematic portfolio manager role. Seta had spent almost a decade with the group before joining CPR at the start of November.

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9. AAA-rated M&G veteran Hughes to exit

Two of M&G Investments longest standing fund managers are to leave the firm. Citywire AAA-rated Richard Hughes will retire from on 31 March 2018, and Aled Smith will step down as the manager of the M&G Global Leaders fund in April 2018.

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8. Julius Baer CEO exits for Pictet wealth role

Julius Baer CEO Boris Collardi has left the Zurich firm to join Pictet Group as a partner and co-head of its global wealth management group. Collardi leaves Julius Baer with immediate effect and will take up his new position at the Geneva group in mid-2018.

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7. High yield head exit prompts bond unit reshuffle

Citywire + rated manager Regina Borromeo left Brandywine Global and relinquished her role as head of international high yield in November. Her exit prompted changes on several funds, mainly in the international high yield sector.

Citywire Selector revealed that Borromeo, who joined the Legg Mason-owned fixed income boutique in 2010, is now set to pursue opportunities elsewhere within the asset management industry.

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6. UBS AM appoints new head of fixed income

UBS Asset Management has bolstered its bond efforts with the appointment of a new head of fixed income, Citywire Selector revealed in November. Charlotte Baenninger had been leading the fixed income team on an interim basis since the start of this year, but has now agreed to formalise her role as head of the team.

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5. Ex-Henderson star joins cryptocurrency firm

Former Citywire A-rated manager Bill Stormont has joined cryptocurrency investment firm First Block Capital as chief executive officer. Stormont left Henderson – now Janus Henderson – in 2013 after several years working alongside veteran investor Tim Stevenson. Around nine months after leaving the group, he joined Absolute Strategy Research in a sales role covering macro data.

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4. Architas hires Amundi’s former selection head

Amundi’s former head of fund selection and advisory, Mai Khanh Vo, joined Architas in an investment adviser role within its Hong Kong unit, Citywire Selector exclusively revealed.

Mai Khanh stepped down from the French firm at the end of October after 20 years. This came against the backdrop of internal changes to the Amundi fund selection team, following the merger with Pioneer Investments.

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3. Pimco’s former CEO to retire

Pimco’s former chief executive officer, Doug Hodge, is to retire after 28 years with the company. Hodge ceded the CEO position to Manny Roman (pictured) in June 2016, having held the position for two years. He stayed on in an advisory capacity, but will now formally step down on 5 December.

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2. HY manager steps down from $1.4bn fund

Sherif Hamid both relinquished his role on AllianceBernstein's giant short-duration high yield bond fund and left the company in November. Hamid had worked for the US-based asset manager since 2013 and was named across six funds, including four Ucits-compliant strategies, such as the $1.47 billion AB SICAV I-Short Duration High Yield fund.

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1. AAA-rated EMD manager to exit

Citywire AAA-rated Thierry Larose is to leave Degroof Petercam AM, prompting the asset manager to strengthen its EMD team, Citywire Selector exclusively revealed.

The departure of Larose, who has been consistently AAA-rated since February 2016, saw the Belgian group make a swift move to reinforce the team on the €1 billion DPAM L Bonds Emerging Markets Sustainable fund. It hired Michaël Vander Elst from AXA Bank Europe, who will work alongside Carl Vermassen on the firm’s EMD efforts.

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Events
  • Citywire Alternative Ucits Retreat 2017

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