UK - Former Phillips & Drew (P&D) fund manager Malcolm Murray has joined SG Asset Management, eight months after leaving the UBS-owned fund manager.
Murray will join SG as a board director and senior UK fund manager, running specialist UK portfolios. He joins the firm after a 21 year stay at P&D, where he will be reunited with former P&D colleague Keith Percy.
He also claimed that prior to joining SG, he was on the verge of leaving the industry altogether: “I had become disillusioned and was close to leaving the industry as I found most of the large investment houses stifle creative forward-looking investment ideas.”
“However SG, in my opinion, has found a balance between control and flair, youth and experienced talent. I relish the prospect of working in this fertile breeding ground for investment ideas.”
Additionally, SG has added Catherine Rudd to its ranks. Rudd, formerly of PricewaterhouseCoopers and Deutsche Asset Management, joins as as a UK smaller companies fund manager.
By Geoffrey Ho
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers