The UK's £1.2bn Shipbuilding Industries Pension Scheme (SIPS) has dumped Newton Investment Management (NIM) following the defection of Toby Thompson from its team.
The investment house has been dropped from a £100m UK equity brief which is now being managed by Gartmore Investment Management whilst a suitable replacement is sought.
Thompson is to set to join New Star as a fund manager although his start date is yet to be decided.
The Basingstoke-based fund is advised by Stamford Associates.
By Madhu Kalia
The British Medical Association (BMA) has warned chancellor Philip Hammond to reform the NHS pension scheme rules or doctors will reduce their working hours.
The lifetime allowance should be scrapped and replaced with a lower annual allowance, last week's Pensions Buzz respondents said.
Action for Children Pension Fund has outsourced its pensions administration to Trafalgar House.