Jupiter has created a role for Warren Tonkinson as it unveils changes to its distribution team ahead of its acquisition of Merian Global Investors.
Tonkinson (pictured) will retain his same job title from Merian, managing director for distribution, and will report to Jupiter’s global head of distribution Phil Wagstaff. He will oversee Jupiter’s international offices and global staff heading up a 50-strong team. All regional heads will report to him.
He has 25 years’ experience in asset management and helped lead Merian through the acquisition process, Jupiter said in a press release.
“With a strengthened fund range and a highly skilled and well-resourced distribution team, there is a significant opportunity to grow the business internationally, better support our existing investors and expand our client base,” he said.
No detail on potential redundancies at this point
Portfolio Adviser asked Jupiter about redundancies within the distribution team as a result of the acquisition but it said it would not provide those details at this point. Wagstaff’s role remains the same, a spokesperson confirmed.
Jupiter also confirmed one further Merian appointment to its distribution leadership team with Marcus Bolitho joining as head of marketing. Jupiter’s acting head of marketing Rob Page will play a consultancy role to support Bolitho during the integration of the two companies.
The appointments will become effective once the £370m acquisition is legally complete. Shareholders gave it the green light a fortnight ago, but it currently awaiting regulatory approval.
The press release said both Tonkinson and Bolitho had played important roles in the launch of Merian.
Wagstaff praises quality of Merian people
Wagstaff said the pair’s experience in the industry and understanding of the distribution landscape would be valued as the businesses merge. “The quality of the people at Merian was highly influential in our decision to buy the business,” he said.
“Warren and Marcus’s experience within the industry and deep understanding of the broad distribution landscape will be of great value as we continue to work towards creating the industry’s leading client-centric, active investment led business, delivering on the strategic objectives we clearly defined at the beginning of this process.”
In addition to the Merian recruits, Jupiter has promoted its head of Italy, Andrea Boggio, to head of continental Europe. Boggio has been with Jupiter four years. He will continue to be based in Italy and, once restrictions are lifted, will travel extensively between regions, a spokesperson said.
Willis Owen head of personal investing Adrian Lowcock said it was good to see a combination of Jupiter and Merian staff leading distribution. He reckoned it looked like a well resourced team.
> See also: Merian assets nosedive 30% ahead of Jupiter deal aided by absolute return outflows
