Andrew Carter, head of UK equities at Gartmore, has left the group to join Royal London Asset Manage...
Andrew Carter, head of UK equities at Gartmore, has left the group to join Royal London Asset Management as chief investment officer, writes Simon Falush.
Carter, who is set to take up the new post in autumn, will take charge of the overall asset allocation process for both retail and institutional money at Royal London, which has £28.5bn in funds under management.
Carter was taken on as his investment philosophy was close to Royal London's existing approach, according to Christopher Phillips, chief executive officer, who has been acting CIO until now.
Phillips said: 'The change should give us more confidence to develop the business. We were seeking to expand the team in any case, we've got an engine that works well now, we just want to do more with it.'
Carter has been head of UK equities at Gartmore since 1999, before which he was head of UK institutional equities from 1997.
In Carter's absence, Stephen Jones, head of European equities, will take over responsibility as head of UK equities until a replacement is found.
In his time at Gartmore he was involved in developing the equity department's investment philosophy, portfolio construction, asset allocation and approach to risk.
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