High profile New Star manager Theo Zemek has quit the firm with immediate effect.
James Gledhill, who joined New Star with Zemek in August 2002, will take over as fixed income head. Gledhill and Nick Hayes will jointly manage Zemek’s £1.01bn Fixed Interest unit trust while New Star's joint CIO Gregor Logan will assume control of the £552m Managed Distribution fund. “Theo received an offer that she apparently could not refuse, so she has moved on,” a New Star spokesperson says. “Nothing much has changed really, Theo was in charge of all fixed interest but James has been pretty much running the funds behind the scenes and is stepping up.” Chelsea Financial Services...
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