Schroders has poached Jupiter's Philip Matthews and Neptune's Alex Breese to replace Richard Buxton and Errol Francis who are moving to Old Mutual Global Investors.
Buxton, manager of the £3.6bn UK Alpha Plus fund, is departing the firm in June along with deputy manager Francis.
Matthews will take on his fund when he joins in September, while Breese, currently head of UK equities at Neptune, will run the Schroder UK Equity and Schroder ISF UK Equity funds.
Peter Harrison, global head of equities, said: "I am delighted Philip and Alex are joining Schroders. They are two highly rated UK equity fund managers with excellent performance track records."
Robin Stoakley, managing director of UK intermediary, added: "Philip and Alex bring a great combination of experience and talent to our UK equities team, which I believe will be well received by clients. I am very confident that the team will continue to deliver the strong investment performance in UK equities our clients expect."
At Old Mutual Global Investors Buxton will run a UK Alpha equity fund. Reporting to Julian Ide, CEO of Old Mutual Global Investors, Buxton will be responsible for managing Old Mutual Global Investors' UK equity teams.
Buxton will also join Old Mutual Global Investors' management team.
Jupiter said it will announce a replacement for Matthews "in due course".
"We can confirm that Philip Matthews has resigned and will be leaving Jupiter in September 2013. We would like to thank him for his contribution to the company and wish him the best of luck for his future," a spokesperson said.
Last month Schroders agreed to buy Cazenove in a £424m deal, taking on key investment managers including Julie Dean, who runs the successful Cazenove UK Opportunities fund. The deal is expected to complete in summer.
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