Snakes and Ladders: Who is moving jobs in the City this week?
Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email [email protected] to be featured.
Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis.
Read more: Snakes and Ladders: Who is moving jobs in the City this week?
This week, challenger bank Aldermore has a new chief executive, Deloitte promoted a partner to head of insurance and HSBC bolstered its research team.
Odey Asset Management creates new global emerging markets team
Odey Asset Management has appointed Robert Marshall-Lee to lead a new global emerging markets team to manage long-only equity funds.
Marshall Lee will join the firm from Newton Investment Management, where he was lead portfolio manager of the BNY Mellon Global Emerging Markets Fund and the BNY Mellon Oriental Fund since 2011 and 2019 respectively.
Odey Asset Management chief executive Timothy Pearey said: “We are delighted that Robert is joining us at this exciting time in the firm’s development.
“At Odey Asset Management we offer portfolio managers the autonomy to manage their funds and their analyst teams independently – without internal interference or the distraction of business management – ensuring they are free to maximise returns for their clients.
“This barristers’ chambers style environment, in conjunction with our significant business infrastructure, has been critical to persuading Robert where best to develop his franchise over the long term.”
Challenger bank Aldermore hires new CEO
Aldermore has hired banking veteran Steven Cooper as its new chief executive, with effect from May 2021.
Cooper, who is currently chief executive of C. Hoare & Co, will replace the challenger bank’s founder Philip Monks, after he announced his retirement earlier this year.
Previously, Cooper was chief executive of Barclays’ personal banking business across the UK and Europe, and chief executive of Barclaycard business solutions.
Aldermore chairman Pat Butler said: “I am delighted that Steven has decided to join us at Aldermore.
“His pedigree speaks for itself and our board is confident that he will build upon Phillip’s legacy and grow our business successfully, while embracing and strengthening our culture and values.
With Steven’s leadership we will continue to champion those values, to pursue our purpose of backing people to fulfil life’s hopes and dreams, and to support our customers, colleagues and communities in these difficult times.”
HSBC bolsters asset management research team
HSBC Global Asset Management has hired Stuary Kirk to lead a newly created research and insights team. He will lead a new initiative called Alphalabs, bringing together the firm’s analysts, data and behavioural scientists, quantitative teams as well as external academics and researchers in order to apply the latest developments in investment approaches, techniques and technologies to client portfolios.
Kirk previously ran the research institute at DWS having moved to the buy-side from Deutsche Bank, where he was global head of multi-asset and thematic research.
He was also editor of the Financial Times’ Lex Column and worked in the asset management practice of Oliver Wyman.
Before that he spent eight years as a global equity portfolio manager at Deutsche Morgan Grenfell.
New head of insurance at Deloitte
Big Four professional services firm Deloitte has promoted strategy consulting partner Andy Masters to UK head of insurance.
Masters, who has 30 years’ experience working in the insurance sector, was a consulting partner at rival KPMG before joining Deloitte.
The insurance business drives almost 10 per cent of Deloitte’s UK revenue by “delivering the full set of services to a wide variety of clients”.
Masters said: “The UK insurance sector has seen significant transformation over a sustained period, driven by regulation, cost and pricing pressures, evolving customer expectations and now of course, from Covid-19.
“The pandemic has proved a real test of the sector’s reputation and resilience, and is likely to have lasting consequences for years to come.
“Despite the challenges it undoubtedly faces, I believe the sector will continue to thrive as it embraces technology and new ways of working to ultimately deliver better outcomes for customers.”
Real estate veteran joins Royal London Asset Management
Royal London Asset Management (RLAM) has appointed Mark Evans as head of property and commercial development.
Evans has 25 years’ experience in the real estate industry, and will join RLAM from CBRE.
In 2009, he established CBRE’s EMEA equity placement business, and has advised on many high profile transactions including the launch of the Royal London UK Real Estate Fund in 2017.
He will join RLAM this month and will report to chief investment officer Piers Hillier.
Hillier said: “Mark’s leadership skills and impressive track record in the real estate market are exactly what we need to build on our successes and achieve our ambitions to keep growing property investments on behalf of our members and for third party clients.
“These are uncertain times, however high quality properties are still in demand and, as one of the largest property investors in the market, we are ready to take advantage of any opportunities that present themselves.”