Newton Investment Management has named Euan Munro as its chief executive just two days after it was announced he was leaving the same role at Aviva Investors.
Aviva Investors announced on Monday Munro’s departure from the business after seven years as CEO and a member of the global executive committee. He is handing leadership to real assets CIO Mark Versey.
Newton said Munro (pictured) will join on 23 June, reporting to Hanneke Smits who is CEO of Newton’s parent company BNY Mellon Investment Management. Smits was formerly CEO of Newton before moving to the top role at BNY Mellon IM in August.
Munro will replace Andrew Downs who has been Newton’s interim CEO since Smits’ departure. Downs will lead Newton until Munro joins the company and receives approval from the Financial Conduct Authority, at which point Downs will resume his role as chief operating officer.
Before Aviva, Munro was at Standard Life Investments where he spent the better part of two decades as head of fixed interest and multi-asset investment, and was instrumental in establishing the flagship Global Absolute Return Strategy.
Smits described Munro as “an exceptional leader with a proven track record in the investment industry”.
She added: “His investment credentials and extensive experience leading one of the UK’s larger asset managers with a presence in the institutional, intermediary and retail markets, are highly relevant to Newton and we look forward to warmly welcoming him soon.”
Munro said: “This is an exciting time to be joining Newton – a global asset manager full of talented people, high quality investment solutions and an incredibly strong heritage in responsible investment. I’m looking forward to building upon this strong foundation and continuing to enhance Newton’s investment offering to help clients achieve their goals.”
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