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People on the move – Investment

Multi-manager duo Gary Potter and Robert Burdett have joined Thames River with plans to launch a core range of five multi-manager funds on October 1. Potter and Burdett had been on six-month gardening leave following their departure from Credit Suisse.

PSigma has recruited former Credit Suisse manager James Abate to set up a large-cap US equity growth fund. Abate made his name on the Credit Suisse Transatlantic fund before moving to GAM, where he ran an American focus equity fund. He currently runs New York-based boutique Centre Asset Management and will run the fund from his US office.

BestInvest head of communications Justin Modray has left the firm after almost five years. Modray resigned two weeks ago, citing discontent with changes at the firm recently, and is now on gardening leave. BestInvest, which has £3.7bn in assets, has been under the microscope this year after founder John Spiers stepped back from the business, passing on the chief executive role to Andrew Barnes. Spiers has since sold the majority stake of the business to global private equity business 3i.

David Urch will join Fidelity‘s Scotland office after leaving Swip. Fidelity announced plans to open the office last year and is looking to recruit about15 fund managers and salespeople. Peter Cockburn has taken over Urch’s responsibilities for the Scottish Widows UK select growth and Swip UK opportunities funds.

Polar Capital Holdings has appointed Nick Evans as senior fund manager on the group’s technology fund. Evans had worked for Axa Framlington, where he was lead manager of both the Axa Framlington global tech fund and AWF Framlington global tech fund.

Skandia Investment Management has recruited Francois Zagame from Insight as head of UK equity research. Zagame and team will be responsible for selecting managers for the group’s £1.7bn UK equity portfolios.


Bank of England to inject £10bn into money markets

The Bank of England has announced that it will inject £10bn into the money markets in a bid to lower three month Libor with further amounts to be added on a weekly basis.The BoE says it will hold three further auctions at weekly intervals with the amounts to be decided later. Banks will be allowed […]

Wood you believe it?

Royal London’s Gareth Evans sent a thank you to the Diary for flagging up Tom McPhail’s new blog.He said: “Ever since reading the story, Steve Bee has been engaged in the new battle of the blogs with a golf shop owner in San Diego.”The Diary did not understand what he meant until, clicking on the […]

Resolution ready with Europe duo

Resolution Asset Management is to build on its European equities range with the launch of international pan-European and European smaller companies portfolios.The pan-European fund will be managed by Jon Fearon and will be a Dublin-based Sicav holding 30 to 70 stocks across the UK and Europe. European smaller companies will be a high-conviction portfolio of […]

Healthcare regulation amalgamation predicted for Gulf states

While Dubai is leading the way in terms of legislating for expat healthcare in the Gulf, Qatar, Abu Dhabi and others are watching and learning – that’s according to Jelf International’s director of international services, Doug Rice. He believes the pace of change in the Gulf states will continue and that some level of unified healthcare system will be introduced across the region.


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