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More to leave at HSAM?

Hill Samuel Asset Management is bracing itself for another wave of

departures this week as its European team prepares to leave.

The name of the Edinburgh-based Scottish Widows/Hill Samuel operation is

to be announced this week.

Star fund manager of the UK smaller companies fund, Ashton Bradbury, is

also tipped to be leaving over the summer.

HSAM&#39s US team, led by Katherine Garrett-Cox, quit to join Aberdeen Asset

Management last week.

The exodus comes after HSAM&#39s plan to relocate to Edinburgh. HSAM

maintains there are still around 20 to 30 fund managers making the trek

north of the border, although industry sources believe the numbers could be

less than 10.

Chase de Vere investment marketing manager Ian Millward fears the problems

at HSAM may not just be to do with the move. He says: “I think people will

generally accept relocation if the package is right so I think it must run

deeper than that. Hill Samuel has not been known as a very strong company

in recent years and I certainly do not have any faith in them at the

moment.”

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