LONDON, Sept 13 (Reuters) - Invesco Perpetual has hired three senior fund managers from rival funds firm Standard Life Investments to form its newly set up multi-asset team at its base in Henley, west of London.
The trio of Standard Life investment directors Richard Batty, David Jubb and David Millar are due to start at Invesco Perpetual, a UK arm of Atlanta based group Invesco, early next year, a spokeswoman said on Thursday.
“Structural changes in regulation and investor requirements are highlighting demand for multi-asset products in the UK,” said Ian Trevers, head of distribution at Invesco Perpetual, in a statement.
A fourth director specialising in global equities, Lance Phillips, is also leaving Standard Life, but a spokesman for the Edinburgh-based fund manager did not disclose his plans.
Standard Life said in a statement there would be no change to its investment processes as it announced Wesley McCoy was returning to the firm as an investment director in the Global Equity team.
He first joined the group in 1999 before leaving in 2008 to pursue charity work,
Standard Life’s Steve Weeple will take over the global equities portfolios managed previously by Phillips, reporting to head of equities David Cumming. Ian Pizer will move from Standard Life’s government bonds team to the multi-asset investing team, reporting to Guy Stern.
Roger Sadewsky, who co-manages with Pizer an absolute-return bond strategy, will also now work more closely with the multi- asset team.
Neil Richardson will be responsible for overseeing absolute return equity strategies within the multi-asset investing team, Standard Life said.