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.
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.