“One of the greats” of the asset management industry Paul Boughton has died.
Better known to the industry as ‘Old Bean’, Boughton’s (pictured) career spanned over three decades. Starting off as a regional sales manager at Schroders, he went on to work for the likes of Legg Mason, Neptune Investment Management and Mirabaud Asset Management, where he was head of sales and marketing for the UK and Northern Europe for seven years until January 2019.
After leaving Mirabaud, Boughton founded MosaicNED, a boutique which sources and trains the next generation of independent non-executive directors.
Former HSBC Global Asset Management wholesale boss Simon Ellis confirmed in a LinkedIn post on Sunday that Boughton had passed away.
“It is with great sadness that I post news of the death of one of the asset management industry’s most popular figures, Paul Boughton. “Old Bean” was renowned for his generosity, his belief in professional salesmanship and positivity,” Ellis wrote.
“Struck down far too young by a combination of a rare cancer and weak heart, he will be missed by all his friends, colleagues and client contacts. His wife Linda and two sons, David and Richard, have requested some time to gather their thoughts, and I’m sure there will be an appropriate time and way for us to express our respects.”
Industry has lost ‘a real character and a legend’
Tributes quickly flooded in from across the asset management industry in reaction to the post.
Liontrust head of multi-asset John Husselbee said, “the industry has lost a real character and a legend”.
“So sad to hear this. OB was one of the greats of this industry,” said global CIO at Morningstar Dan Kemp. “An absolute pleasure to be with, wise and generous to a fault. He will be remembered by all with incredible fondness. His family are in my prayers.”
Former colleagues and industry commentators fondly remembered him as a “mentor” and praised his indefatigable positive outlook, humour and sartorial flair.
“Small in physical stature, but Paul was a giant in integrity, loyalty and personality. We lost touch for a few years after Schroders, but it was my pleasure and privilege to be reacquainted with him through MosaicNED,” said Paul Craven, who runs his own behavioural finance consultancy.
MosaicNED founding partner Mike Evans said in a statement: “We are deeply saddened by the loss of Paul Boughton, who was one of the founders of MosaicNED. Our hearts go out to his wife, Linda, and two sons. Paul was instrumental in building MosaicNED, with a view to promoting diversity and developing governance in the industry. We’ll be remembering Paul Boughton as we begin our next course this week and Paul will always be a big part of MosaicNED.”
In addition to his work at MosaicNED, Boughton had been a partner at Marketing Alpha Partners since April 2018 where he specialised in product governance.
