GLOBAL - Fidelity snags Gartmore CIO; Hermes; UBS; T. Rowe Price
Gartmore Investment Management chief investment officer and director Dominic Rossi will leave the firm to join Fidelity International as global CIO for equities, Fidelity said today.
He will be based in London and reports to Robert Higginbotham, president and chief executive for Europe. His appointment is subject to FSA approval.
Fidelity has reshuffled its top invest team since the start of the year. Nicky Richards, global CIO left in March and resurfaced at MLC, the wealth management unit of National Australia Bank. Now Andrew Wells serves as CIO for fixed income, while Rossi will oversee the equities team.
Fidelity International has $231.6bn in assets under management. To read full story, click here.
UK-based Hermes Fund Managers has recruited James Taylor as director of government bonds.
Taylor will work in Hermes' £10bn ($16.2bn) Global Government and Inflation-Linked Bonds team and will be responsible for all investment management activities. He reports directly to Penni Coe, head of the team. Taylor joins Hermes, the firm which runs the BT pension scheme, from Gulf International, where he was head of fixed income.
The California Public Employees Retirement System has lost John Kowalik, portfolio manager for its $800m commodities portfolio. Kowalik joined UBS Investment Bank as executive director-commodity index sales and structuring and reports to Jon Fraade, managing director in the commodity index business, a UBS spokeswoman confirmed.
CalPERS will search for a replacement in early 2011. The commodities portfolio will be overseen by the fixed income team in the interim, said Clark McKinley, CalPERS spokesman.
T. Rowe Price Global Investment Services has appointed Andrew Skeat as vice president and client service executive. He will cover institutional clients in the UK and Ireland. Skeat is based in London and reports to Andrew Marks, head of business development and client services for the UK and Ireland. Skeat joins from Capital International. Before that, he was a client servicing team leader at Schroder Investment Management.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.