Quilter is on the hunt for a new CIO for its multi-asset business as Bambos Hambi announces he will retire by the end of the year.
The former head of Standard Life Investment’s MyFolio range joined Quilter in November last year. Though initially brought on board to replace Paul Simpson as the top boss of Quilter Investors, the firm’s multi-asset arm, he ended up assuming the role of CIO following restructuring at the parent company.
Hambi (pictured) said that due to his changing personal circumstances during the pandemic, including family illness over the past year, he had made the “difficult decision” to cut his career at Quilter short to spend more time with his family.
“I’ve thoroughly enjoyed my time at Quilter Investors and the wider Quilter group,” he said. “It is a business starting to unleash its growth potential and I’ll continue to watch its progress with interest.”
He is the second fund-of-funds giant to announce his retirement today, after Gary Potter said he would step down as BMO Gam’s multi-manager co-head, also to spend more time with family.
Hambi’s successor to be announced imminently
Hambi will stay with the business until the end of 2021 to help recruit a successor, a process which is currently in advanced stages, with Quilter to announce his replacement in the “near future”.
As Hambi oversees Quilter Investors’ portfolio management team, he does not have any direct responsibility for running portfolios day-to-day.
Steven Levin, CEO of Quilter Investors and Quilter’s UK platform, said: “I would like to take the opportunity to thank Bambos Hambi for his insights and support for Quilter Investors over the past year. We fully respect his decision to retire, and he leaves with our very best wishes.”
Hambi’s career spans more than 30 years in the asset management industry. He rose to prominence at Standard Life Investments, overseeing its MyFolio multi-manager franchise. When Standard Life merged with Aberdeen Asset Management in 2017, he became head of multi-manager strategies.
Prior to that he worked in various multi-manager roles for Gartmore and Rothschild Asset Management.
