Jeff Taylor is to leave Invesco at the end of year and hand over his role as head of European equities to John Surplice.
Surplice is co-manager of the Invesco European Equity fund (UK) alongside Taylor (pictured) and will assume his new role from 1 January 2021.
The investment strategy and process across the portfolio will remain unchanged.
Commenting on his retirement, Taylor said: “In planning for a successor, it was crucial to ensure consistency in our investment philosophy and process.
“John shares my vision for the portfolio and team and has a deep understanding of our clients’ ambitions, as well as strong leadership qualities.”
Successor has been with Invesco for 24 years
Surplice has been with Invesco for 24 years and has worked with Taylor during the bulk of that time.
He co-manages several funds, including the Invesco Pan European equity fund alongside Martin Walker.
The team has also recruited James Rutland, who joined Invesco as a fund manager in early June.
He will co-manage the Invesco Pan European Equity fund and the Invesco European Opportunities fund (UK) alongside Surplice.
Rutland was previously a member of the European Equities team at Schroders, where he worked for five years.
Prior to that he worked on the sell side and in investment banking. He brings with him 12 years’ industry experience as an analyst and fund manager.
The announcement follows sweeping changes to Invesco’s UK equity franchise following a review by chief investment officer Stephanie Butcher that saw Mark Barnett exit the business after 24 years.
>See also: Mark Barnett spotlighted as Invesco reveals £23bn of underperforming funds
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