Smith & Williamson Investment Management has hired BNY Mellon manager Tineke Frikkee to work on the £8.5m Smith & Williamson UK Equity Income Trust.
Frikkee will work on the trust with current manager, Mark Swain, assisting and will provide input into various charity accounts overseen by the asset manager.
Frikkee managed the £2.3bn Newton Higher Income fund from April 2004 until December 2012, when she was replaced by head of UK equities Richard Wilmot and went into discussions about her role with the firm.
The manager will join Smith & Williamson from Newton parent BNY Mellon on 1 July. Her appointment is the latest step in the firm’s move to build up its UK equity franchise, after Mark Boucher rejoined the firm as head of UK equities in January.
Smith & Williamson head of marketing and sales Nick Hodgson says: “The appointment of Tineke is a strong signal to the market of our intention to build up our franchise in the UK equity income space.
“It is clear that the demand for equity income will not diminish in the current climate, and this view is supported by the recent IMA industry sales data. We are confident that someone with the calibre and track record of Tineke will put us in a strong position to build our assets in this area.”