View more on these topics

Multi-manager chief Cheeseman quits F&C as funds go to Thames

F&C head of multi-manager Dean Cheeseman is to leave the firm as his retail range passes over to Thames River Capital.

F&C manages £600m of multi-manager funds within its retail range, which will pass across to Thames River co-heads of multi-manager Gary Potter and Robert Burdett, subject to regulatory approval.

This would see Potter and Burdett with more than £1bn within their multi-manager range. The migration of the funds is expected to conclude by the end of the year.

It is understood the £260m F&C Lifestyle range will be a separate entity within F&C. F&C fund manager Paul Carne and analyst Catherine Sauer will move to Thames River and Carne will run the Lifestyle range. Remaining F&C manager Oliver Sonnbichler will also leave the firm.

Cheeseman joined F&C in December 2007, having been head of developed markets at Forsyth Partners. The news came a day after F&C announced the completion of the deal to acquire the specialist investment boutique.

Potter says: “Multi-manager has been a flagship product for both Thames River and F&C in the retail market and this will continue to be the case.
“We will build on the positive momentum we have seen in both our own and F&C’s range of multi-manager funds. Lifestyle has been an important focus for F&C in recent years, supported by a number of significant IFA strategic partners. We look forward to working with these clients.”

Whitechurch senior analyst Ben Seager-Scott says the company did not need two multi-manager heads so “something was clearly going to give”.

He says: “Since the acquisition was designed to bring in more expertise, the writing was pretty much on the wall soon after the initial announcement.”


Shalton to take over as IFP president

The Institute of Financial Planning will appoint Bluefin Wealth Management financial planner Marlene Shalton as president of the IFP at its annual conference later this month. Shalton, who is currently IFP vice president, will take over the two year presidency from Paradigm Norton chief executive Barry Horner. Helm Godfrey managing director Bruce Wilson will replace […]

RBS axe falling on 3,500 more jobs despite £1.5bn profit

Royal Bank of Scotland is set to cut 3,500 jobs, bringing the total number of roles slashed by the bank since 2009 up to 21,500. The state-owned bank has told 3,500 staff that 12 processing offices in the UK will be shut down. A third of the job losses are as a result of the […]

Former Goldman Sachs Asia head in frame for HSBC role

The former head of Goldman Sachs in Asia is understood to be a frontrunner to succeed Stephen Green as the chairman of HSBC. According to reports, John Thornton is in the frame for the role, which became available after Green agreed to become the UK’s new trade minister. Green will take the unpaid role in […]


School fees planning

Jeremy Pearson is Technical Support Manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. Many parents value the standard of education offered by […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm