Meanwhile John Lester, head of strategic partnerships at Argonaut, is leaving to join Investec Asset Management. When approached, a spokesperson for Investec was able to give no further detail than that Lester is indeed joining the company.
Portfolio Adviser understands he will take up his new position early in the New Year.
Pellerito and Lester both joined Argonaut from Neptune in July, the former leaving his position as UK manager of third-party distribution, while Lester swapped his head of strategic partnerships position for a similar role at Argonaut.
Pellerito’s new role is not a direct replacement for Lester though perhaps reflects Argonaut’s present focus, with his responsibilities being distribution of Argonaut products in the UK market. Ignis continues to be responsible for distribution of Argonaut’s funds across Europe outside the UK.
Argonaut was founded in 2005 as a joint venture with Ignis though has been run independently since mid-July this year.
