Jupiter Asset Management global distribution head Warren Tonkinson (pictured) has left the firm amid a wider restructuring of its sales division.
The firm has created a newly-formed ‘Client Group’, bringing together its wholesale and institutional distribution arms under one team. It will be co-headed by distribution COO Maximilian Guenzl and head of international Mathias Mueller.
A Jupiter Asset Management spokesperson told Portfolio Adviser: “This new structure reflects the ongoing convergence of wholesale and institutional client demands as they increasingly think beyond ‘products’ and seek alternative methods of accessing our alpha generating capabilities.
“Following these changes, Warren Tonkinson and the Jupiter management have concluded that his role is no longer needed and that he will be leaving the company after 11 years at Jupiter and Merian.”
See also: Jupiter cost-cutting mission sees profits soar 56%
Tonkinson joined Jupiter in 2020 as the result of its merger with Merian Global Investors, where he had spent two years as global distribution head.
The distribution restructure marks the latest in a series of changes since the departure of chief executive Andrew Formica in October 2022 and appointment of his successor, Matthew Beesley, who has wasted no time rolling out plans to make Jupiter a leaner company.
At the beginning of the year, Jupiter outlined a range of fund closures, mergers, and changes in investment objective as part of a 12-point plan to overhaul the firm’s offerings.
Most recently, it proposed the merger of the £399m Jupiter Merian Global Strategic Bond Fund and the £31m Jupiter Flexible Macro Fund.
See also: Jupiter shutters dwindling European small-cap fund
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