Morningstar: M&A is not the magic bullet asset managers think it is
Consolidation often burdens firms with more integration challenges than it does scale and fee benefits
People Moves
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Warren Buffett to retire from Berkshire Hathaway
He named Greg Abel as his successor, who had no idea Buffett was going to make the announcement
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Alex Stanić exits Artemis for AustralianSuper
His responsibilities will be absorbed by the wider global equities team
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Aberdeen’s EMD veteran Diment to retire after 34-year career
Siddharth Dahiya becomes global head of emerging market debt, reporting to global fixed income head Jonathan Mondillo
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Evelyn Partners hires former Paddy Power Betfair CFO
Alex Gresh has led multiple firms through transitional stages such as Cazoo and Sportsradar
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BlackRock Frontiers and Latin American make manager changes
Amid changes to BlackRock’s global emerging markets team
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Rosemary Banyard leaves fund management
Banyard will remain at Downing as a consultant but no longer manages the Downing Unique Opportunities fund she created
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AXA IM appoints US equity portfolio manager
Gordon Happell joins after 10 years at Columbia Threadneedle
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Nikhil Rathi reappointed as FCA chief executive
Rathi took up the role in October 2020
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Chikara names portfolio manager on CC Japan Income & Growth Trust
Wyld has been promoted to portfolio manager/analyst on the investment trust and its sister fund
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AllianzGI announces public markets CIO as equities head exits
Michael Krautzberger will become CIO of public markets, while equity CIO Virginie Maisonneuve has decided to leave the firm
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Former Hargreaves veteran Lee Gardhouse returns to industry with Moai Wealth
Will be joined by a team including Jessica Miller