Standard Life Investments (SLI) is reviewing its remuneration policy after Euan Munro became the latest star name to announce his departure from the firm last week.
Munro (pictured), one of the founding members of the group's popular £18bn Global Absolute Return Strategies (GARS) team and head of the multi-asset at the group, will leave SLI in January to become CEO of Aviva Investors.
His departure follows the deaprture of David Millar, Dave Jubb and Richard Batty who left SLI last September to join Invesco Perpetual. The trio held key roles in the GARS multi-asset team.
Guy Stern, who has been appointed head of multi-asset & macro investing following Munro's departure, said SLI is reviewing its incentivisation programme.
In a conference call to clients, Stern said it is key the group retains investment talent.
"There will always be big debate over [remuneration] as there will always be somebody chasing the best people and I suppose we should take it as a bit of a compliment that our people are sought after by other organisations, who would like to build something as successful as we have done here.
"There are reviews taking place about our whether our compensation and incentive of all our long-term lock ins are correct, so those are the kind of things that are being reviewed."
Last week following the news of Munro's departure Hargreaves Lansdown removed the fund from its Wealth 150 buy list, pointing to the "more significant" loss of the key manager.
"We have met [Stern] on a number of occasions and believe he is a capable individual with adequate experience to take over from Euan Munro," said senior investment manager Adrian Lowcock.
"However, his departure follows that of three other members of the GARS investment team late last year.
"At that time we were more relaxed about the departures as the individuals involved were less senior and the team remained well-resourced.
"We view the loss of Euan Munro as more significant and feel it prudent to remove the fund from the Wealth 150 while we monitor the fund and the GARS team to see how they cope in his absence."
‘Important to have an anchor’
Lack of innovation for solutions
Some 2,000 consumers affected
Achievements, charity work and other happy snippets