Katherine Garrett-Cox is to join Morley Fund Management as chief investment officer in early 2004, replacing Gerry Holtham, who is retiring.
The move follows Garrett-Cox"s decision not to return to Aberdeen following a period of maternity leave. In her place is joint managing director of Edinburgh Fund Managers Anne Richards, who will assume the vacant chief investment officer role at Aberdeen.
Aberdeen bought EFM for £36m earlier this year before subsequently selling the retail funds on to New Star.
Morley said there are no plans for Garrett-Cox to run money, although she will bring her management experience to bear on CIO decisions. She had already stopped running money funds at Aberdeen, giving up her North American vehicle when she became CIO, the Global Champions fund in February 2002 and two offshore international portfolios in April that year.
Formerly chief investment officer at EFM before the acquisition, Richards is to take on the chairmanship of Aberdeen"s Investment Committee, which also includes head of equities Hugh Young and head of fixed interest Rod Davidson.
Before joining EFM in 2002, Richards was managing director and head of one of the institutional teams at Merrill Lynch.
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