UK - Henderson Global Investors is considering plans to enter the defined contribution market.
As part of the possible move Henderson has recruited Nick Adams from rival Threadneedle Investments, where he was an institutional client manager.
Adams joined Threadneedle when the firm launched its DC business and played a “significant” role in its development and growth over the following three years.
At Henderson, Adams will be associate director of institutional business and will report to director of global consultants Andrew Fraser.
The pair are now assessing opportunities for Henderson in the DC market and preparing a business plan.
Henderson institutional business director Arno Kitts said the firm’s DC business plan was no longer a “blank sheet of paper”.
He said the firm was reviewing market developments and it was likely to make further appointments within the DC area.
However, Kitts said that one concern for Henderson was that it wanted to avoid the fate of rival fund management firms which had lost money on their DC operations. He said that these firms had been left with a series of empty boxes – despite spending considerable amounts of time and money on their DC platforms.
Kitts added: “I have no doubt that if we proceed with this, Henderson will be a big, big player in DC.”