Octopus chief investment officer Lothar Mentel made redundant

Octopus Investments chief investment officer Lothar Mentel has been made redundant, alongside five other staff as part of a staff review.

The other five members of staff were in customer services and operations.

Mentel joined Octopus just over three years ago and left on December 12. Octopus is not replacing him with responsibility for continuing to grow the multi-manager business passed to director and founder Guy Myles.

A statement from the firm says: “We believe that our fund range is now sufficiently focused, and our teams sufficiently integrated, so that the individual fund managers can collectively drive forward the Octopus investment philosophy.”

Day-to-day management of the assets and will continue to be the responsibility of fund managers Bish Limbu and Colin Lunnon.