Paras Anand, F&C Investments’ head of Continental European and Pan European equities teams, has quit and will join Fidelity Worldwide Investment in the new year as head of Pan-European equities. Richard Lewis, formerly co-head of New Star institutional managers will be joining Fidelity at the start of November as head of global equities.
Both Anand and Lewis will report to Dominic Rossi chief investment officer, equities.
Rossi says: “Paras and Richard are experienced investors, who also have a strong track record in managing investment teams. This blend of expertise will ensure that we are able to create the best environment for success within the core area of UK and continental European equities as well as in the major growth area of global and emerging market equity investment.”
Anand will continue to manage his current mandates during the next six months, with no immediate changes expected.
The company will be looking to recruit a replacement for Anand during the handover period.
Anand currently manages the £165.9m F&C European growth & income fund and co-manages the European assets trust with Sam Cosh. He is also lead manager of the F&C institutional Europe fund.
The manager joined F&C in 2007 from Deutsche Asset Management, where he headed its European equities team in New York and managed DWS Europe equity fund.
He has also previously worked for HSBC Alternative Investments and began his career at Invesco in 1997.