View more on these topics

Aviva Investors forced to shake up management as Denham and Young exit

Business-Handshake-General-Hire-Appointment-700x450.jpgAviva Investors has shaken up management in its UK and European equity teams following the departure of Mark Denham and Simon Young from the firm.

Denham, who will join Carmignac as its head of European equities, spent 13 years leading the pan-European equities team and managing €5bn (£3.8bn) in mandates.

He will replace Muhammed Yesilhark who left Carmignac for “personal reasons” in March this year after almost two years at the firm.

Young departs Aviva Investors after just one year at the firm. Aviva would not confirm where he was going.

Following Denham’s departure, Frédéric Tassin, head of European equities at the firm, will now have sole responsibility of Aviva Investors’ European teams both in Paris and London.

Current fund manager Ed Kevis, who manages the firm’s European Equity Income fund will take over all responsibilities for the European portfolios in London.

As a result of Young’s departure, head of UK equities Trevor Green will be co-manager of the £254m UK Equity fund alongside Chris Murphy.

Green will continue to co-manage the company’s UK Opportunities fund and the UK Smaller Companies fund.

Aviva Investors’ James Balfour has also been promoted to portfolio manager, and has been appointed co-manager on the UK Equity Income fund with Murphy.

Regarding the appointment of Denham, Carmignac founder and chairman Edouard Carmignac says: “Our aim is to achieve robust, steady performance, based on a culture of long-term investing. This is at the essence of our Patrimoine investment approach.

“Mark understands this focus and his experience, track record and investment style make him the ideal leader to drive that ambition forward.”


Remortgage barriers could see switch to trail payments

Mortgage advisers may have to change their business model from up-front commission to trail cash because borrowers are not remortgaging, according to the Association of Mortgage Intermediaries. Speaking at a Money Marketing mortgage round table, AMI director Robert Sinclair said that customers are staying on the same mortgage rate for longer and advisers’ business models […]

Pensions Regulator warns of ‘hybrid’ scheme risks

The Pensions Regulator has issued a warning to trustees about the risk of governance failings in ‘hybrid’ pension schemes. Hybrid schemes contain elements of both defined-benefit and defined-contribution pension benefits. The regulator has published a statement designed to help trustees and their advisers understand the structure of hybrid schemes. TPR executive director of DC, governance […]


Financeland is no good at change

Change is painful. That is why we do so little of it, personally or collectively. The snap-back from the crunch to economic nearly normal is a good example of humans doing their best to avoid the necessity of change. Already the professional wiseacres (the same economists who failed to see the crunch coming) are starting […]


UK votes to leave the EU

The UK has voted to leave the European Union, with 52 per cent of the British public voting to leave. The Leave campaign took 17,410,742 votes to the 16,141,241 votes for Remain, marking 52 per cent in favour of Leave and 48 per cent for Remaining in the EU. The vote will end the UK’s 43-year […]

The investment clock

While Trump blazes blond in the political foreground, it’s easy to overlook the economic background to the new political dimension of 2017. Political risk will be a feature of the year: the unpredictable and untested Trump administration has already created uncertainty, which is unlikely to diminish, especially if protectionist rhetoric starts to outweigh promises of […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment