Newton has kicked off the new year with a reshuffle of its investment team. Jeff Munroe is stepping down as Chief Investment Officer to lead Newton's global equities effort and Simon Pryke steps up from his role as Head of Private Client and Charities to take over from Munroe in what Newton describes as a "redefined role of CIO."
CEO Helena Morrissey explains the reshuffle, “We believe that our investment process and philosophy position us well given our expectation of an environment characterised by lower returns and higher volatility. That said, our business has grown in size and complexity over the last few years and we need to remain vigilant about the execution of our investment approach.
“Jeff is committed to ensuring Newton’s performance is consistent across our full range of mandates, and has decided to step down from his current role as chief investment officer in order to now lead the Global Equities Team. This will provide strong focus and attention from one of our most senior and experienced investment professionals.”
As for the redefinition of Pryke’s role as CIO, this is to ensure focus on execution of the investment process and effectiveness of the firm’s idea generation. “Simon understands our investment process, culture, and approach exceedingly well. He has a strong grasp of the investment issues facing the team and the firm and is ideally positioned to lead our investment team as we navigate the ever changing environment,” adds Morrissey.
A third appointment sees Caroline Tye assuming responsibility for Newton’s Private Clients business. She’s been with Newton since 1998 and is currently head of UK private clients. Subject to regulatory approval Tye will join Newton’s Board.
And the fourth new appointment is Jon Bell, currently investment leader, global equities, who joins Newton’s multi-asset team in a new role.
Service increasingly key
Aiming to be' top three' UK financial planner
Lowest measure since index launched in 1995
Complaints into double figures
Despite lower median annual earnings