Newton Investment Management in the UK has confirmed that global marketing head Guy Hudson will replace outgoing director of sales, marketing and product development Scott Powers.
The replacement will take effect when Powers assumes the role of CEO of Old Mutual’s US asset management business in September.
In his new role, Hudson will relocate to the US, where he will be based at Mellon Institutional Asset Management in Boston. He will report to Mellon president, Ron O’Hanley.
Simon Wombwell, previously head of retail sales for pan-Europe will replace Hudson as global marketing head in London.
By Janet Du Chenne
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.
This week's top stories included coverage of the much-anticipated defined benefit (DB) white paper and the sector's reaction.