PEOPLE MOVES: Deutsche AM, BMO GAM, Kleinwort Benson

Added 9th June 2016

Following a period of medical leave, the head of Deutsche AM is to leave the company in order to focus on his treatment. BMO GAM has named a new chief executive and the departure of its co-chief executive. Recent acquisitions have seen new chief executives appointed at Kleinwort Benson and StarCapital.

PEOPLE MOVES: Deutsche AM, BMO GAM, Kleinwort Benson

Deutsche Asset Management

Quintin Price, head of Deutsche AM and member of the management board, is to leave the company effective from 15 June. In mid-April he requested a period of medical leave in order to focus on the treatment plan for an unspecified illness.

Price, who joined Deutsche Bank in October 2015, advised the bank that, following further consultation with his doctors, he will be unable to resume his role.

The supervisory board is currently searching for his successor. In the interim, Jon Eilbeck, global chief operating officer and regional head for Asia Pacific at Deutsche AM, will continue to lead operational responsibilities for the business. Chief executive John Cryan will continue to represent the division on the management board.

BMO Global Asset Management

Richard Wilson has been appointed chief executive and chief investment officer of BMO GAM with immediate effective. He was previously chief executive of BMO Global Asset Management EMEA.

Wilson was appointed chief executive of F&C in January 2013, prior to its acquisition by BMO Financial Group. Before becoming chief executive, he held several senior positions at F&C including head of equities and head of investment & institutional.  

He began his asset management career in 1988 as a UK equity manager with HSBC Asset Management (formerly Midland Montagu). In 1993 he moved to Deutsche Asset Management (formerly Morgan Grenfell) where he was latterly managing director, global equities. From Deutsche, Wilson joined Gartmore Investment Management in 2003 as head of international equity investments.

Further, Rajiv Silgardo, currently co-chief executive of BMO GAM, has decided to retire from the bank, effective 1 August. Since joining BMO in 2009, Silgardo was instrumental in GAM’s success – in particular the launch of BMO’s first exchange traded funds (ETFs).

Kleinwort Benson

Following Societe Generale’s acquisition of Kleinwort Benson, which closed on Tuesday; Eric Barnett, chief executive of Societe Generale Private Banking Hambros has been appointed chief executive of Kleinwort Benson, with immediate effect.

Barnett replaces Martha Boeckenfeld who has decided to leave the company following the acquisition.

Kleinwort Benson will be fully integrated with SGPB Hambros by early 2017. Until that time, the two companies will continue to operate as independent entities within the Societe Generale group.

StarCapital

Alexander Gerstadt, former chief executive of GAM Germany, is to take up the role of chief executive of StarCapital.

The company’s acquisition by Bellevue Group was completed on Monday, with Gerstadt due to start his new role later this month. In addition to his time at GAM, Gerstadt also served on the management board of Bank Julius Baer.

Association of British Insurers

Andy Briggs, chief executive of Aviva UK Life and chairman of Aviva Global Life, has been nominated by the ABI board to become its next chairman.

He will officially take up the role after the ABI’s AGM in October, and succeeds Paul Evans, group chief executive of Axa UK, who has completed his two-year term as chairman.

Briggs has been deputy ABI chairman since November 2015 and is currently chairman of the ABI audit committee. He joined the group executive and Aviva board in April 2015, to lead the company's enlarged UK Life business following the acquisition of Friends Life Group where he was group chief executive.

Maseco Private Wealth

Helge Kostka has joined Maseco Private Wealth as chief investment officer with responsibility for directing the firm’s investment policy and strategy, as well as managing all aspects of Maseco’s global asset portfolios. He will also lead the research team, working closely with the academic community to identify relevant applications for Maseco’s discretionary portfolios.  

Prior to joining Maseco, Kostka helped to establish and grow the presence of Research Affiliates in Europe. He also worked for Aviva Investors in London, serving as head of product management and head of product specialists. 

Newton Investment Management

The BNY Mellon company has appointed portfolio manager Zoe Kan as lead manager of the Newton Asian Income Fund. Kan, who has been at Newton for 15 years, has been involved with the management of the fund since its inception in 2005.

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About Author

Kirsten Hastings

Senior Reporter

Kirsten is a senior reporter for International Adviser, covering global news stories about the financial services industry. She joined Last Word Media in October 2015 after two years working as a reporter covering the staffing and recruitment industry. Kirsten has a Masters in Financial Journalism from the University of Stirling. 

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