Alan Gadd is to take up his role as head of UK retail at Norwich Union Investment Funds (NUIF) on ...
Alan Gadd is to take up his role as head of UK retail at Norwich Union Investment Funds (NUIF) on 8 May, writes Ruth Alexander.
Gadd, who had been head of savings and investment at HSBC until his departure in February, will look to improve NUIF's profile with discretionary fund buyers.
Gadd's role includes heading up sales and marketing as well as developing business strategy for the UK. He said: "It will be necessary for us to set out our stall with the pure fund buyer, the smaller institution, who can bring a lot of valuable business."
Gadd said the intermediary channel remained crucial as it was continuing to gain market share. He added that the group would have to take into account the growth of e-business, which raised issues of how consumers wanted advice complemented, as well as possible changes in future distribution due to polarisation.
Gadd worked at Henderson Administration for 12 years before joining HSBC in 1995. At NUIF he will report to Gerard Quirke, managing director of the group, who will be concentrating on pan-European business.
Gadd is a replacement for Mark Skinner who left NUIF earlier this year to join New Star.
News of Gadd's appointment was first revealed on IFAonline.co.uk, the Investment Week sister online news service.
CGU and Norwich Union merged on 30 May 2000 to create CGNU. The group's principal business activities are long-term savings, fund management and general insurance, with global premium income and retail investment sales from ongoing business of more than £27bn and assets under management in excess of £210bn.
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