Further cuts have been made at Newton Investment Management including the role of global head of sustainable investment and several fund manager roles.
The group confirmed Therese Niklasson, global head of sustainable investment, has left the group and confirmed her role will not be replaced.
“We can confirm Therese Niklasson will be leaving Newton Investment Management,” a statement said. “Sustainable investment research remains an integrated part of Newton’s investment process. Deepening the connection between the team and the rest of Newton’s multi-dimensional research platform will continue as a critical step in helping Newton deliver even better outcomes for all clients.”
Meanwhile, the group confirmed Andy Warwick – co manager of the £2.5bn ($3.4bn) Real Return fund – head of emerging market equities Liliana Castillo Dearth, and bond fund manager Howard Cunningham are also exiting the firm amid a re-structuring of the business. The investment management teams will now be divided into four core departments including income and value equity, growth and core equity, specialist equity, and multi-asset.
A representative from BNY Mellon, the parent company for Newton IM, said the Real Return fund will now be led by co-heads Ella Hoxha, who previously ran the fund with Warwick, and Aron Pataki.
Further, Alex Khosla will become lead manager on the BNY Global Emerging Markets Opportunities fund, assuming the responsibilities previously held by Castillo Dearth.
“We are confident the changes to Newton will allow us to continue to deliver the high quality of service and investment outcome for our clients,” said Jose Minaya, global head of investments & wealth.
The moves follow the departures of chief executive Euan Munro and CIO for multi-asset Mitesh Sheth, as reported in April.
This article first appeared in our sister publication, PA future.
