Newton re-shuffles CIO spot

boardroom_signNewton, a London-based asset manager owned by BNY Mellon Asset Management, has appoint Jeff Munroe, its chief investment officer, as head of global equities. Munroe is effectively stepping down to oversee the equities effort and Simon Pryke, currently head of private clients and charities, is to assume a redefined role of CIO. Helena Morrissey, chief executive officer of Newton, said: “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.” Newton is redefining the role of CIO to ensure its “focus on execution of the investment process and effectiveness of the firm’s idea generation”, the firm said. Pryke, who has been responsible for private clients and charities at Newton since November 2009, is replaced by Caroline Tye, who joined Newton in 1998 and is currently head of UK private clients. Jon Bell, currently investment leader, global equities, will be joining Newton’s multi asset team in a new role. Morrissey added that the current investment environment is “profoundly different from that experienced by most investors so far in their careers”. ©2012 funds europe

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