Old Mutual
Nkosana Moyo has stepped down from the Old Mutual board with immediate effect to run for president of Zimbabwe. He joined the insurer in September 2013 and served on the group audit and remuneration committees.
Moyo, was previously the country’s industry and international trade minister but quit his government post in 2001, has vowed to single-handedly remove Robert Mugabe from power, reports South African newswire News24.
Mugabe has been president of Zimbabwe since 1987, having served as prime minister between 1980 and 1987.
Old Mutual Asset Management (OMAM)
Peter Bain has stepped down as chief executive of OMAM, effectively immediately. He has been chief executive, president and director at the company since 2011. No reason was given for his departure.
Bain previously worked at Legg Mason, where he held leadership positions from 2000 to 2009.
OMAM board chairman James Ritchie will serve as executive chairman and interim chief executive while the company searches for a replacement.
Axa Asia
Jean-Louis Josi, chief executive of Axa Asia and a member of the group management committee, has decided to step down from his executive responsibilities. He is leaving Axa after 12 years to pursue new professional projects.
Josi will remain with the group as a senior adviser until the end of 2017 to ensure a smooth transition. His successor will be announced before the end of the third quarter.
Deutsche Bank Wealth Management
Deutsche Bank WM has appointed former Coutts & Co chief executive Michael Morley to lead and build its UK business. He will join the wealth manager in July and is one of the first of around 100 front-office hires planned for this year.
Morley was chief executive of Coutts from 2009 to May 2016 and spent seven years as chairman of the board of Royal Bank of Scotland International before stepping down in January 2017.
Before that he spent eight years at Merrill Lynch as manging director of UK private banking and director of private wealth solutions for Europe and the Middle East.
Aviva Investors
Aviva Investors has appointed Charles Wong as head of wholesale distribution, Asia. Based in Singapore, Wong joined the company on 5 June as part of global client solutions. He will be responsible for growing Aviva Investors’ wholesale platform in Asia and managing relationships with private banks, family offices and financial advisers in the region.
Wong has over 12 years’ experience working in fund distribution; holding senior business development roles covering retail intermediaries, private banks and institutional investors.
Most recently, he was vice president of institutional distribution at Credit Suisse Asset Management.
JP Morgan Asset Management (JPMAM)
JPMAM has promoted Malcolm Smith to lead its newly formed international equity group, which combines the firm’s global and European equities group.
Smith joined JPMAM in 2014 and has headed the European equities group since January last year. He previously worked as a managing director within the fundamental equities group at BlackRock, having joined in 2006 when his previous employer, Merrill Lynch Investment Managers, was acquired by the asset manager.
Neptune Investment Management
Matthew Butcher has left Neptune as the firm announced it will no longer launch its own wealth management business. Formerly head of research at Brewin Dolphin, Butcher joined Neptune in May 2016 and was tasked with leading the firm’s entry into wealth management.
The company, however, decided to focus on growing its core asset management business.
Financial Conduct Authority
The FCA has named two new chairs for the regulator’s practitioner panels, independent statutory bodies that represent the interests of the financial services industry within the UK’s regulatory framework. Panel members are recruited to represent both their own sector and the industry as a whole, rather than individual firms.
Practitioner Panel: Anne Richards, chief executive of M&G, will become chair of the FCA Practitioner Panel from 1 August 2017. She has been a member of the panel since 2013 and succeeds António Simões, chief executive of HSBC Bank.
Markets Practitioner Panel: John Trundle, chief executive of Euroclear UK & Ireland, will become chair of the FCA Markets Practitioner Panel from 1 July. He has also been a member of the panel since 2013 and succeeds Robert Mass, senior adviser in global compliance at Goldman Sachs.
