Harry Morgan is leaving Edinburgh Fund Managers (EFM) to join Newton Investment Management as head o...
Harry Morgan is leaving Edinburgh Fund Managers (EFM) to join Newton Investment Management as head of private clients in Scotland.
Morgan's deputy of five years, Alan Aitchison, has been appointed managing director of the EFM division. Prior to EFM's acquisition of Dunedin in 1996, Aitchison headed up Dunedin's private client business. Andrew Hartley and Mark Hallam, both senior portfolio managers within the team, have been promoted to the board of the private client division.
Nigel Whittingham, group business development director at EFM, said the private client department will remain a separate business and there are no plans to merge it with the Portfolio funds of funds business.
At Newton, Morgan will be responsible for developing the Scottish business and managing the existing team of 15 Edinburgh-based fund managers. At EFM, he was responsible for around £300m of assets but at Newton, he will be responsible for more than £700m.
The resignation comes as EFM is looking to put a flexible commission menu on its fund of funds range.
This is intended to attract more intermediaries, in particular those used to dealing with the wide range of remuneration options available on life bonds. The move is still at the planning stage.
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