Custard, the former head of global investment solutions at UBS Asset Management and ex-Schroders multi-asset solutions head, will take up his new post with the £55.2bn subsidiary of BNY Mellon on 14 August.
His appointment is part of Newton’s senior management reshuffle under current chief executive Hanneke Smits, as the firm prepares to “grow its global footprint”.
Smits replaced City heavyweight Helena Morrissey, after she stepped down as chief executive last August, a role she had held since 2001.
Newton’s management team will now include a chief investment officer, chief operating officer, chief risk officer and chief commercial officer, alongside Smits.
Julian Lyne, currently global head of distribution, has been promoted to chief commercial officer, a role which will see him responsible for the firm’s client relationships.
Andrew Downs and James Helby will keep their roles as COO and CRO, respectively.
Custard, meanwhile, will oversee all sides of the investment process and “strengthen the alignment between the investment and commercial sides of the business,” the firm stated.
He will not run any money directly in his new role but will look after the heads of Newton’s investment desks and the dealing team.
Prior to joining Newton, he was the head of global investment solutions at UBS Asset Management in London and Chicago for nine years and was Schroders’ head of multi-asset solutions for four years, at the helm of a 40-person investment team.
He was also the chief investment officer of Allianz Global Investors’ multi-asset and balanced business.
Smits said of the restructure: “It builds on our investment philosophy and process and reflects the board’s, including my own, commitment to reinforcing governance for the next stage of growth. I am pleased to welcome Curt to Newton IM.”
