Funk (pictured) joined Premier in May, meaning he spent just three months as investment specialist. He had previously held several senior positions in South Africa, including chief executive at Cinnabar Investment Management.
A Premier spokesperson said it would be looking to fill the role in due course.
Funk will lead the growth of the £2.1bn Fusion Wealth discretionary investment business which currently manages £2.1bn of assets. He will report to Benchmark chief executive Ian Cooke.
In a press release issued by Schroders, Funk said he has ambitious growth plans for the discretionary investment solutions available on the Fusion Wealth platform.
Cooke welcomed Funk’s experience in investment, product development and distribution.
Schroders purchased Benchmark in 2016.
Benchmark has previously been described as an integral part of Schroders’ joint venture with Lloyds that “should shake up the wealth manager market considerably”.