Habib Annous, manager of the Merrill Lynch Investment Managers (MLIM) UK Smaller Companies and UK Va...
Habib Annous, manager of the Merrill Lynch Investment Managers (MLIM) UK Smaller Companies and UK Value funds, has left the group to join institutional US fund manager Capital International.
Annous is now on gardening leave, having left his role on 13 May. The UK Smaller Companies fund is to be managed by Carl Lee, who has previously run pan European smaller companies mandates, while James Macmillan, who heads up the MLIM Value investment team, will take the lead role on UK Value.
The loss of Annous is a blow to Merrills which has struggled to retain key personnel in recent months and Annous was one of its managers with a high profile in the retail market.
Last week Andreas Utermann, global head of equities and manager of the MLIM New Europe fund, resigned after 12 years with the group.
The last year has also seen the departure of Carol Galley, Jeffrey Peek, Stephen Zimmerman, David Urch and Chris Alexander. In an April issue Investment Week revealed that 50% of MLIM's retail fund managers listed in the 2001 version of the Unit Trust Directory had changed since the directory's publication last year.
At the time Nigel Webb, head of communications at MLIM said: 'The FSA requires an individual to be named as the fund manager, and like every other fund management company we have to comply with this.'
£300bn of liabilities
View from the front row
Transfer from occupational scheme
Appointed by FCA and PSR boards