Nick Roberts, senior member of the core UK equity team at Merrill Lynch Investment Managers, left th...
Nick Roberts, senior member of the core UK equity team at Merrill Lynch Investment Managers, left the group last week after his position was made redundant.
Roberts, who worked at MLIM for 12 years, formerly handled large institutional mandates on the group's select team.
His departure follows a number of defections by MLIM fund managers over the past year to other groups. These include Habib Annous, who left to join institutional US fund manager Capital International, and bond manager Peter Geike-Cobb, who has since joined Insight Investments.
MLIM also lost part of its UK specialist fund management team last year when Peter Davies and Stuart Roden left to join hedge fund boutique Lansdowne.
The group has recently added to its UK team with the hiring of Richard Plackett from M&G. Plackett is taking over management of the £41.8m Merrill Lynch UK Smaller Companies fund, which has fallen 26.6% over the 12 months to 2 December on an offer-to-bid basis, compared to a sector average of -28.4%.
What made financial headlines over the weekend?
The chairman doggedly tries to be amusing
'Profitability is almost a myth'
Active Wealth in liquidation
Cautious welcome for volatility