Premier Miton has nabbed M&G’s former global distribution boss Jonathan Willcocks as it gears up to expand the business.
Willcocks (pictured), or Joffy as he is better known in the industry, announced he was leaving M&G in January, after 17 years at the fund group.
He will now lead Premier Miton’s global distribution efforts, when he joins the rival firm this month in a newly-created role.
The Aim-listed asset manager said his hire represents another “important strategic development” for the group at a time when it is looking to diversify its client base and grow assets under management.
So far this year, it has seen assets under management plunge by £2.6bn to £11.8bn after being battered by volatile markets and client outflows.
Premier Miton had been in a bidding war with Assetco to acquire River & Mercantile, but dropped out of the running in January, leaving Martin Gilbert’s business to scoop up the rival manager.
More recently, the group, known for its UK wholesale presence, has been trying to make inroads into the institutional market, following similar moves from other asset managers, such as Liontrust.
“In the face of challenging economic conditions, we believe more investors, including wholesale and institutional, will seek truly actively managed strategies to take advantage of market opportunities to deliver added value through superior investment performance,” CEO Mike O’Shea said.
“Joffy’s appointment will enhance our distribution capabilities and help us continue to grow by capitalising on the demand for high performing, differentiated products.”
Willcocks said Premier Miton is “well placed to grow its footprint in both the wholesale and institutional markets”.
Prior to M&G, he worked in a variety of senior sales roles at MFS, Abrdn, Prolific and Hambros.
See also: Jupiter regional sales manager lands at Premier Miton
