Liz Rae, head of the US desk at F&C, has left the company as it looks to revamp its North American i...
Liz Rae, head of the US desk at F&C, has left the company as it looks to revamp its North American investment process.
Rae ran institutional money for the group and her departure follows the decision of Tony Broccardo, chief investment officer, to undertake a review of the entire US investment process.
The review does not include the US small-cap team, which is headed by Robert Siddles, however, as this is treated as a separate entity.
Broccardo will work alongside Atul Patel, head of the global desk, and Robin Woodall, head of the UK desk, to review the structure, stock analysis and decision-making processes of the US team.
Broccardo said: 'F&C has good performance in its major products and I am confident that working closely with the US team over the next couple of months we will get the US equity product back on track.'
According to F&C, while the group is generating good returns in all its other product classes, its US performance has been out of line with the performance across the group.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till