KPMG snags Mercer partner, Mercer poaches from NEST, BlackRock, BlueBay, ICI, Impax, Man Group, Aviva, Barings
KPMG has lured Jon Exley (pictured), former partner at rival Mercer's financial strategy group, to serve as partner within the investment advisory practice.
Exley will take up the role in November and will join existing partners Patrick McCoy and Nick Evans in the investment advisory business, which touts £25bn ($39bn) in assets under advisory.
Patrick McCoy, head of investment advisory at KPMG in the UK, said: "We are delighted that Jon is joining us as he brings a wealth of consulting and banking experience. He will be advising clients on investment and risk management issues, which are both areas where clients need clear guidance in these difficult times."
Exley is known for his research in asset and liability modelling and has co-authored a number of papers on the application of financial theory to pension funds.
Meanwhie Mercer has hired a key employee from the National Employment Savings Trust as a senior consultant in its governance and trustee services group.
Phil Howard joins the consultant to work with clients on operational risk and effectiveness. He will also advise clients on how to prepare for auto-enrolment and employer duties.
At NEST he worked as its operational information manager where he oversaw the development of all management information and devised internal policies and processes to ensure good governance of the scheme.
Sue Crosby has also joins Mercer as partner in the consultancy's investment consulting business. She will be based in New York and responsible for growing the firm's implemented consulting offering. Crosby was most recently business development head at Perella Weinberg, an investment outsourcing provider.
Fixed income specialist BlueBay Asset Management has hired Anthony Fobel to lead its new private lending business.
The private lending business will provide credit to small and medium sized firms in Europe at a time when banks and alternative lenders are pulling back. The business will offer senior and subordinated loans to European SMEs for acquisitions, capital growth, restructuring and liquidity.
BlueBay plans to launch an initial closed-end, direct lending fund in 2012.
Fobel joined from Och-Ziff Management where he was partner and head of its European private market business. He will be based in London.
He said: "While increasingly commonplace in North America, this form of private capital funding is a relatively new development for the European asset management industry. I look forward to helping to build a strong private debt business for BlueBay to complement its existing, market-leading, public leveraged finance business."
BlackRock has hired Al Denholm to the new role of managing director and regional head of EMEA for the firm's multi asset-class solutions business (BMACS).
He will work with Michael Huebsch, managing director and global head of BMACS, to oversee client strategy, solutions portfolio management, active asset allocation and research, and business management. He will also be responsible for the active allocation and research team and serve on the BMACS management committee.
ICI Global, the new trade association launched by the Investment Company Institute (ICI), has picked Dan Waters as its managing director and Jamie Broderick, chair of its Steering Committee.
ICI Global is a London-based trade association focused exclusively on globally active funds - including regulated US and non US funds.
Waters touts 12 years of working at the UK's Financial Services Authority directing asset management policy while Broderick is currently head of JP Morgan Asset Management in Europe. (Global Pensions; 10 October 2011)
Environmental investor Impax Asset Management has hired Ominder Dhillon as head of distribution. He joins from Fidelity International where he was head of UK institutional distribution.
Ian Simm, Impax chief executive, said: "Impax is seeing a marked increase in investor interest in alternative energy, water and other environmental markets, and we are expanding the distribution channels through which we market our funds."
Nina Shapiro will serve as non-executive director at alternative manager Man Group. She has spent her career in a series of senior roles at the World Bank and was vice president, finance and treasurer of the International Finance Corporation from 2000-2011.
Aviva Investors has appointed Patrick Chong as head of financial institutions business development - Asia Pacific. Chong will be responsible for the development and implementation of the firm's business development strategy for the financial institutions sales channel in Singapore and Asia Pacific. He will be based in Singapore and reports to Erich Gerth, chief executive Asia Pacific & global business development. (Global Pensions; 6 October 2011)
Baring Asset Management has appointed Michael Simpson to the role of head of Latin American equities as it moves to expand its presence in the space.
Simpson, who joins from San Francisco-based Wells Capital Management, will report to head of equities Tim Scholefield and take on the management of the firm's $572m Latin American fund.
Scholefield said the appointment follows plans to focus new resources on the Latin American investment universe as it represents "the heart of the emerging markets story".
"We believe the region has strong fundamentals in place to deliver superior returns over the long term. Improving growth and inflation numbers and strong domestic demand will provide support for Latin American equities into 2012 and beyond."
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