Rob Burdett (pictured), head of the Columbia Threadneedle multi-manager team, will exit the firm in April after 17 years alongside fellow portfolio managers Kelly Prior and Scott Spencer.
Burdett will be succeeded in the role he first took up in 2007 by portfolio manager Paul Green.
The firm said that as a result of Burdett’s departure, it had decided to review the current standalone CT multi-manager team.
Rather than continuing the CT multi-manager team in its current form, Green, Anthony Willis and Adam Norris will transition to Columbia Threadneedle’s EMEA asset allocation team, led by Paul Niven.
Meanwhile, Catherine Sathi, another member of the team, will become part of the Columbia Threadneedle multi-manager solutions team under David Weiss.
The Navigator and Lifestyle funds run by the CT multi-manager team will continue to be managed with the same investment objectives and policies.
Burdett said: “I’ve really enjoyed working with my team and colleagues in our goal to deliver performance and service to clients over the past 17 years, and beyond.
“We have achieved much during this time, and I want to thank the team for all they have done and wish them all future success, as I look to evaluate any future opportunities within the industry.”
Reacting to the changes, Darius McDermott, managing director of FundCalibre, said: “Despite having a well-resourced multi-asset team, the departures of Rob Burdett, Scott Spencer and Kelly Prior will be a big loss in terms of experience for Columbia Threadneedle, particularly when you consider the loss of former co-head Gary Potter who retired in 2022.
“Performance of the fund range has been more challenging in recent years, but the team had an excellent long-term track record. Alongside Gary Potter, Rob Burdett was one of the early pioneers of multi-manager/ fund of funds investing, having worked at Rothschild Asset Management, Credit Suisse and Thames River Multi-Manager LLP. Kelly and Scott have both been long-standing members of the team and have also played a significant part in that success.
“While the fund range retains the experience of some members of the team – who will move over to the Columbia Threadneedle EMEA Asset Allocation team – we feel these significant changes must result in the removal of our Elite Rating on the CT MM Navigator Distribution fund.”
