Cazenove has appointed HSBC Asset Management's Andrew Ross to head up its fund management business.
Ross, aged 41, has been chief executive of HSBC Asset Management since 1999. Prior to his time at HSBC, he spent 14 years at James Capel Investment Management. Presently Ross is on gardening leave and will take up his position at Cazenove later in the third quarter.
In addition to Ross' appointment, Cazenove has also lured HSBC's managing director Robin Minter-Kemp away from HSBC. He will be responsible for the distribution of the firm’s mutual funds when he joins the firm at the end of the third quarter.
In the interim, HSBC has split Ross' duties and given them to Dean Buckley and Stephen Oakes. Buckley, chief investment officer of UK and pan-European equities, will be acting chief executive with responsibility for asset management in London.
Oakes is currently chief executive of international private clients and takes over the UK private client business as well as responsibility for distribution which was handled by Minter-Kemp. Both will report to Alain Dromer, HSBC's global head of asset management
Currently, Cazenove Fund Management has approximately £12bn in funds under management and is in the process of converting from a partnership into a corporate entity by listing on the London Stock Exchange. Its clients include charities, pension funds, private clients and mutual funds.
By Geoffrey Ho
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