Gam head of investments Matthew Beesley has defected from the beleaguered manager to join Artemis Investment Management as chief investment officer.
Beesley, who joins on 20 April, will replace Peter Saacke, who is stepping back to focus on running his global equity funds.
Beesley had been responsible for $70bn (£54bn) worth of strategies at Gam across equities, fixed income, global investment solutions, real estate debt and systematic investment. He oversaw teams in London, Zurich, Cambridge, New York, Lugano and Hong Kong.
Gam had revealed in November he would be departing with existing investment and operational executives taking on his responsibilities.
The Swiss asset manager has faced large outflows since it dismissed fund manager Tim Haywood for “gross misconduct” and liquidated his absolute return bond fund range.
In a statement announcing his appointment, Beesley described Artemis as “promising, ambitious and client-focused”. “The opportunities for active fund managers are clear. Artemis has the skills and enthusiasm to make the most of these; and to meet the needs of its growing number of clients here in the UK, in Europe and beyond.”
Saacke has been a fund manager at Artemis since 2002 and has run the £736.2m Artemis Global Growth fund since 2004. He also co-manages the £360.4m Artemis Global Emerging Markets fund, which launched in 2015, the £129.5m Artemis Institutional Global Capital fund, and segregated mandates.
He was initially CIO from 2007 to 2011 and again from January 2016.
Artemis senior partner Mark Murray said: “Peter will stand down from the role of CIO with our thanks for all he has done. I am delighted that we will be welcoming Matthew as our new CIO. His experience and record speak for themselves.”
