Veteran steps aside at fund manager
Ide becomes Martin Currie CEO as Watt takes chair
Willie Watt has been replaced as chief executive at fund manager Martin Currie by Julian Ide who joined the company last May. Mr Watt, pictured, will remain with the Edinburgh-based business as chairman.
Mr Ide steps up from his role as head of distribution and strategy. He was head of Old Mutual Global Investors, now Merian Global Investors, from 2011 to 2016, and held senior roles at Credit Suisse and ABN AMRO. In his new role he will be responsible for a company which has £12.9 billion of assets under management.
Mr Watt said: ‘Julian joined us as the standout candidate to lead Martin Currie as we looked toward our future. With early successes in rejuvenating our engagement in institutional distribution and in engaging strategically with Legg Mason’s distribution network, he has quickly affirmed our faith in his abilities.
“I am proud of the nearly two decades I have spent in building our investment capabilities and world class client solutions.
“I look forward to the prospect of Martin Currie continuing to achieve the very best for our clients and have no doubt that our firm will continue to reach its full potential under Julian.”
Aberdeen-raised Mr Watt became CEO in 2001 following a career in private equity with 3i, becoming managing director for Scotland and Ireland running investment teams which focused on venture capital, oil and gas and market buyouts. In 1995 he became a member of the UK management group until leaving the company in 2000.
A major milestone at Martin Currie was its partnership with Legg Mason, giving the firm access to wealth management distribution around the globe.