L&G's Burgess joins Threadneedle as CIO
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Threadneedle has appointed L&G Investment Management head of UK equities Mark Burg-ess as chief investment officer.
Burgess will join the firm in the first quarter of 2011 and will replace current CIO Sarah Arkle, who is retiring next year to become Threadneedle vice-chairman.
Arkle was one of Threadneedle’s founding members in 1994 and became CIO in 2000. She joined Allied Dunbar Asset Management in 1983, which later merged with Eagle Star to form Threadneedle.
Alex Lyle will become lead manager on the funds that he currently co-manages with Arkle - equity and bond, glo-bal equity and global equity and bond - with no changes to the investment process.
Before joining L&G, Burgess worked for 12 years at Deut-sche Asset Management.
Hargreaves Lansdown inv-estment manager Ben Yearsley says: “Threadneedle has developed a solid team and is performing well again after an indifferent couple of years. I do, however, always question the benefit of a CIO.”
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