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The 12 biggest manager moves in March

Citywire Selector runs down the industry changes that moved the market last month.

12. GAM hires bond boutique CEO for board

GAM is set to add Rogge Global Partners’ chief executive officer, David Jacob, to a non-executive role on its board of directors amid wider senior changes at the Swiss asset manager. At the forefront of the changes, the Geneva-based group named Hugh Scott-Barrett to succeed current chairman Johannes de Gier, while Jacob will sit on the board of directors.

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11. SLI equity boss exits

Standard Life Investments (SLI)'s head of equities David Cumming has relinquished his role. According to a statement from SLI, Cumming, who joined the firm in 1998 from Morgan Grenfell, is leaving to 'pursue other interests'. The change was the first major departure in the wake of the announced Standard Aberdeen merger.

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10. Veteran Franklin PM to exit blockbuster income fund

Veteran Franklin Templeton portfolio manager Alex Peters exited the California-based asset manager after 25 years. Peter was a manager on the firm's $2.3 billion Luxembourg-domiciled Franklin Income Fund alongside lead portfolio manager Edward Perks and Matthew Quinlan, which mirrors Franklin Templeton's $81.7 billion 40 Act version.

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9. AA-rated manager steps back from JPM EM fund

JPMorgan Asset Management made changes to the manager line-up on two emerging market equity funds last month, with Citywire AA-rated Amit Mehta stepping down from the JPM Emerging Markets Opportunities fund. Elsewhere, Joyce Wenge will join the JPM Emerging Markets Diversified Equity fund as a back-up manager.

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8. Mobius drops host of fund roles as ‘next gen’ of PMs step up

Mark Mobius has relinquished responsibility for the majority of his Luxembourg Ucits funds amid sweeping changes designed to further the US asset manager’s succession plans. This move builds on the announcement Stephen Dover had taken over from Mobius as chief investment officer for the Templeton Emerging Markets Group (TEMG) in April 2016.

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7. Skagen hires AAA-rated manager as two PMs exit

Skagen has hired Citywire AAA-rated Øyvind Fjell from a rival firm to take over its €857 million regional equity fund, with the two current lead managers departing the Norwegian company. He will formally join in July. Amid the latest see Citywire + rated Ole Søeberg and Geir Tjetland announced plans to leave the firm.

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6. Ex-AllianzGI multi-manager resurfaces at boutique

Multi-manager Berit Hamann will this month join Hamburg-based Veritas Institutional two months after stepping down from German investment giant Allianz Global Investors. Hamann left the group in March and became the latest to leave the Frankfurt-based team after a spate of departures.

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5. Lombard Odier IM absolute return bond team exits

Lombard Odier Investment Managers' absolute return bond team, which comprises Gregor Macintosh, Grant Peterkin and Federico Belak, is leaving the Geneva asset management firm, Citywire Selector's sister site Citywire Switzerland revealed.

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4. Former AAA-rated EM equity manager quits French boutique

Citywire Selector revealed that EM equity specialist Nina Majstorovic Lagron quit Gemway Asset after two years with the Paris-based investment boutique in March. Formerly Citywire AAA-rated Majstorovic joined the firm in November of 2014 after having spent seven years on the EM desk at Amundi.

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3. UBS head of equities departs for US group

Macquarie Group’s Delaware Investments has hired a head of equities from UBS Global Asset Management. The firm recruited John Leonard, who will be responsible for providing strategic oversight of the firm’s nine US-based equity investment teams.

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2. EMD veteran quits $1bn fund to join HF firm

Citywire + rated manager Marco Santamaria has relinquished his role on AB’s $1 billion Emerging Markets Debt Portfolio and ended seven years with the US asset manager to join BlueCrest Capital Management last month. Santamaria, who formally stepped down in January, has assumed a portfolio manager role.

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1. BlackRock cuts PMs and fees in active equity overhaul

The most-read manager move story this month came as March drew to a close and BlackRock overhauled its active efforts in a move that led to a reshuffle in fund managers. This resulted in seven managers changing roles – albeit not all leaving the firm – with around $25 million being paid out in severance and bonus payments.

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Related Fund Managers

Matt Quinlan
Matt Quinlan
167/223 in Mixed Assets - Balanced USD (Performance over 3 years) Average Total Return: 13.21%
Øyvind Fjell
Øyvind Fjell
2/45 in Equity - Nordic (Performance over 3 years) Average Total Return: 69.18%
Amit Mehta
Amit Mehta
325/488 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: 21.71%
Mark Mobius
Mark Mobius
74/488 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: 34.31%
Ole Søeberg
Ole Søeberg
Geir Tjetland
Geir Tjetland
Berit Hamann
Berit Hamann
Nina De Martinis-Majstorovic
Nina De Martinis-Majstorovic
Marco Santamaria
Marco Santamaria
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