Canada’s RBC has appointed a head of wealth management for its businesses in the UK, the Channel Islands and Asia. Gemma Godfrey’s Moola has poached its chief investment officer from BlackRock, while Ascot Lloyd has created a new head of advice role.
Swiss Life’s chief executive for Switzerland is to depart next year, with his successor already identified. Columbia Threadneedle has also named a chief executive, tasked with covering Emea and asset management. Legg Mason’s head of UK sales is set to depart, with a search underway for his replacement.
Legg Mason’s Evan Bauman talks about letting value dictate his contrarian approach to co-managing the US Aggressive Growth Fund and the importance of hand holding.
Real estate investment trusts (Reits) may see total returns come off recent highs by the end of 2016, as energy infrastructure and dividend-paying stocks take the lead among equities that provide regular income, said Mark McAllister, senior portfolio manager at Clearbridge Investments, a Legg Mason affiliate.
Lombard Odier Private Bank has added six to its roster as the company builds its UK presence. Manulife has announced a promotion in its individual financial products division in Hong Kong, while Legg Mason Global Asset Management has named a business development director.
Axa Asia has appointed a regional chief risk officer, while Chinese wealth manager Noah has made changes to its senior executive team. A fund manager is to depart Schroders, with Legg Mason bolstering its international product team in Australia.
Legg Mason has launched sterling hedged share classes for the firm’s IF Rare Global Infrastructure Income Fund to provide investors with exposure to infrastructure equities while lessening the impact of currency fluctuations.
Legg Mason’s head of product strategy, Jaspal Sagger, and Justin Eede, the company’s head of insitutional sales, are confident their ‘parallel’ distribution and product strategies will help them navigate any hazards these uncertain times may bring post-Brexit.
Legg Mason has acquired an 82% stake in US-based online investment adviser Financial Guard for an undisclosed sum.
If the UK leaves the European single market following the Brexit vote, the country risks losing its financial passporting rights.
Baltimore-headquartered asset manager Legg Mason is to launch an income-oriented global infrastructure fund. Managed by the group’s Australia-based subsidiary Rare Infrastructure, the fund will be made available to investors in the UK onshore fund range.
UK millennials are more open to receiving financial advice from automated services, so-called robo-advice, than their counterparts around the world, a survey by global asset manager Legg Mason has revealed.
