Martin Gilbert-backed Assetco has nabbed Gary Collins, formerly of Columbia Threadneedle, as head of distribution to boost newly-acquired Saracen Fund Managers’ distribution strategy.
Collins (pictured) was previously head of distribution at Columbia Threadneedle, running its EMEA and Latin American distribution strategy and team. Before joining Columbia Threadneedle in 2006, he worked at Merrill Lynch Investment Management.
He left Columbia Threadneedle in June last year before the firm hired Michaela Collet Jackson as head of distribution EMEA in January this year.
Collins’ appointment comes on the back of Assetco’s acquisition of Saracen Fund Managers in a deal worth £2.75m. The acquisition is expected to complete by the end of September, subject to regulatory approval.
Assetco deputy chairman and chief executive Peter Mckellar said Collins had been hired to help develop Saracen Fund Managers’ distribution strategy to increase its client base and product range.
He added Collins will “play a key role in developing the overall business” and “brings a wealth of experience and expertise, with a track record of working closely with clients and delivering results”.
The Saracen acquisition will be the first since Aberdeen Asset Management founder Gilbert was named as chairman of the former fire-engine leasing service. Assetco has since announced a change in strategy, focusing on making strategic acquisitions in the asset and wealth management industry.
Collins said: “Joining Assetco at such an early stage in its growth story is a fantastic opportunity. Assetco’s strategy of investing in, and building, asset and wealth management businesses really appeals.”
He added that the structural changes occurring “in terms of demographics, fee compression and the search for alpha, provide opportunities for agile businesses, such as Assetco”.
