Invesco Perpetual has lost Mark Niznik, manager of the UK Smaller Companies (Core) fund, to Standard...
Invesco Perpetual has lost Mark Niznik, manager of the UK Smaller Companies (Core) fund, to Standard Life Investments.
This comes in the same week that Invesco Perpetual has hired four fund managers, including two members of the Merrill Lynch Global Titans fund team to run the Invesco Perpetual Global Dynamic Theme fund.
Niznik's departure comes less than six months after the fund's previous manager, John Sweet, left to join Teather & Greenwood. Niznik will continue to manage the portfolio until his three-month notice period runs out in April, during which time Invesco will look to recruit a replacement.
Niznik will join the Standard Life smaller companies team, headed up by Harry Nimmo, and will initially run some of the company's institutional pensions mandates. Although it is likely that Niznik will be given a retail vehicle to manage at some point in the future, Standard Life said this does not feature in its immediate plans.
Invesco Perpetual has recruited Habib Subjally, co-manager of the Merrill Lynch Global Titans fund, as head of global equities. He will also take specific responsibility for the management of the troubled Invesco Perpetual Global Dynamic Theme fund, managed until September by Andrew Callender.
Callender will be assisted by Manraj Sekhon, with whom he worked closely on the Global Titans fund, and who arrives with him. Steven Rowntree has joined from Gartmore, where he was a pharmaceutical and healthcare analyst, to run the offshore Invesco GT Healthcare fund, while Adam Coleman-Jenkins has joined the European Smaller Companies team from UBS Brinson.
The Merrill Lynch Global Titans fund is run on a collective basis from a model portfolio, with stocks selected by specialist sector analysts. As a result Merrills has appointed two existing members of the global team, Ian Rowley and Matthew Beesley, as successors to Subjally, with immediate effect.
Standard Life has also strengthened its fixed income team with three appointments. Jonathan Gibbs joins from Hendersons, where he worked on the global fixed interest desk. Gregor MacIntosh comes from Edinburgh Fund Managers where he was number two on the bonds team and Craig MacDonald arrives from Standard & Poor's where he was responsible for rating credit products.
Duo start roles on 1 October
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