Phillips & Drew (P&D) has appointed Matthew Stemp to succeed Robin Apps as CIO. Apps is leaving P&D to join Beaumont Capital Management where he will manage Europe, Asian and US equities.
Stemp joined Phillips & Drew in 1993 and has worked across a range of areas, including European and international equity portfolios, heading the European equity team and, in recent years, headed up P&D’s client portfolio management team for which he will continue to have responsibility.
“The key part of my role will be to offer the full capabilities of UBS Asset Management to our UK client base, represent our investment views to clients and to reflect the needs of our clients to our global investment team,” said Stemp.
Also leaving the company are fund managers Simon Gergel, who is joining the investment team at HSBC, and Malcolm Murray. Their responsibilities will be reassigned within their teams.
* Standard & Poor's, the global rating agency, last week affirmed its AA+ long-term and it’s A-1+ short-term credit rating on UBS. The outlook remains stable.
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