Smith & Williamson UK equity manager Charles Deptford has left the firm.
Deptford joined Smith & Williamson in June 2009 as fund manager for the Smith & Williamson UK Equity Growth and Smith & Williamson UK Special Situations Trusts, which have since merged under his management.
Mark Boucher is returning to Smith & Williamson in January. He left the company in 2009 to run UK money for a US multi-strategy hedge fund and is now returning as director, head of UK equities and to return to his former responsibility as co-manager of the Enterprise Fund.
He will also become the lead manager of UK Equity Growth Trust, supported by Rupert Fleming. Mark Swain is the assistant fund manager of UK Equity Income Trust and will now become lead manager on the fund for the foreseeable future.
Smith & Williamson director, head of investment management and banking David Cobb says: “We have had great success in building up an impressive franchise in fixed income over the past few years and we are confident that this new structure for the UK equity team will put us in a much stronger position to mirror this success.
“Boucher is a very experienced fund manager with an excellent track record and this, combined with his knowledge and understanding of Smith & Williamson, makes him an important hire for us”.