New Star retail sales and marketing managing director Phil Wagstaff has resigned from the company to take up the role of global head of distribution at Gartmore.
Wagstaff will be responsible for the distribution of all retail, institutional and alternative products in the UK, Europe, Japan and the US and will also assume responsibility for the marketing, client service and product development functions.
Gartmore president and chief executive Jeff Meyer says: “We are extremely excited that Phil is joining Gartmore. He has a strong track record of building, managing and leading distribution businesses at some of the most successful fund management groups.
“This will be invaluable to us as we accelerate the growth and development of our business. We also have a number of other initiatives underway to continue to attract, develop and retain the intellectual capital that will continue to differentiate Gartmore.”
Wagstaff says: “This is a fantastic opportunity to join Gartmore at a very exciting time in its development. The ownership structure, with key employees having significant equity participation, has proved a major incentive and the business has enormous energy with which to grow and develop.”
Wagstaff was at New Star for 18 months. His position will be filled by internal appointment.