Effective immediately, Pryke’s departure has set off a reorganisation of Newton’s investment hierarchy, with Charles French, head of financials and consumer research at the firm, promoted to the new role of head of investment.
Reporting to chief executive Helena Morrissey, French will take over the running of Newton’s investment process, with the group confirming that there will be no direct replacement for the vacant CIO berth.
French will work alongside the firm’s strategists, overseeing the implementation of ideas in liaison with Morrissey, though there will be no alterations to Newton’s overall investment process.
Following a 19-year Newton career, which he began in 1996 as a global financials analyst, Pryke departs to seek other opportunities.
A firm statement said: “Pryke leaves the business knowing that it is in great shape and well-positioned for the future, and we wish him every success.
“To complement the increased investment focus of our new leadership structure, Morrissey will be more firmly embedded in the investment team, including line management responsibility for some of the key investment leaders and moving to sit among the investment team.”
