More change at fund manager
Sloane returns as Martin Currie announces second departure
Martin Currie, the active equity fund manager, has re-hired Paul Sloane to replace global emerging markets (GEM) manager Andrew Ness who is the second high profile figure to leave the business this month.
Mr Ness departs after eight years at the Edinburgh-based firm where he was responsible for financial sector research and managing the GEM strategy.
His departure follows an announcement earlier this month of a restructuring which saw investment head John Pickard leave the company.
Mr Sloane (pictured) has more than 19 years’ investment experience and re-joins Martin Currie, having previously worked at the company for 14 years, most recently as co-manager of its global alpha strategy. He joins on 13 August as portfolio manager and will take on coverage of the financials sector.
Martin Currie’s flagship emerging market equity strategy has outperformed the MSCI Emerging Markets Index over all time periods since the team began managing the strategy in October 2010.
Willie Watt, chief executive, said: “It’s great to welcome Paul back to the company. He is a highly respected and experienced global stock picker whose investment philosophy of investing in quality businesses with strong growth potential is very much aligned to that of our global emerging markets team.
“Paul has the personal attributes and technical ability for this role and enjoyed a great working relationship with our GEMs team.
“Not only does he have deep expertise in portfolio-relevant stock research and significant knowledge across several global sectors, he also has the ability to form, communicate and challenge opinion. With these attributes, Paul will be a powerful addition to our collaborative team based approach.
‘As we continue to build our global distribution momentum, we are seeing strong demand for our established global emerging markets proposition from wholesale and institutional investors. Paul’s arrival is part of a programme of further building out the GEMs team to meet the needs of our international client base.”
This appointment follows four key strategic hires at the firm since the turn of the year, including the appointment of Zehrid Osmani from Blackrock as head of the global long term unconstrained team and Julian Ide as head of distribution and strategy.
Martin Currie confirmed that Mr Ness was leaving to take up a new opportunity in the industry.
“Andrew leaves the business with Martin Currie’s best wishes,” said the company in a statement.
Earlier this month, the firm announced