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Ex-M&G head Stewart to join Santander AM as CIO

Santander Asset Management has appointed ex-Butterfield Bank group chief investment officer David Stewart as chief investment officer after the departure of CIO John Bearman.

Stewart was group chief investment officer at Butterfield Bank between 2009 and 2011. He was previously head of investments at MGM Assurance.

Santander Asset Management UK chief executive Jeff Scott says: “We see Stewart’s experience as key to enhancing our retail and institutional aspirations as we look to build upon the investment in our fixed income, equity and research capabilities in the UK.”

Bearman left Santander in March to join Thomas Miller Investment as chief investment officer. Thomas Miller Investment chief executive Mike Balfour says: “Bearman’s appointment continues a phase of investment in new talent and improved integrated operational systems to help us provide greater added value for our clients. He is a significant appointment and will allow us to develop our investment offering by enhancing our experience and expertise.”

Rowan Dartington head of collectives research Tim Cockerill says: “One of the key att-ributes necessary for a chief investment officer is experience and David Stewart has that. The more economic cycles and changes that CIOs have seen the better they will be at looking at what may happen.”

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