Quilter Investors’ head of investments Anthony Gillham has left the firm after almost two decades with chief executive Paul Simpson stepping into the role, but one expert says the transition could have been smoother.
Gillham, who joined Skandia Investment Group in 2000 and Old Mutual in 2012, has held several roles including investment analyst, fund manager and co-head of multi-asset.
He said: “I have thoroughly enjoyed the past two decades that I have spent with the company. While I leave at an exciting time for the business as it continues on its new journey as Quilter, I am confident that the excellent team will continue to go from strength to strength.”
In a press release on Wednesday, the firm said Simpson (pictured) would be taking direct oversight of the investment desk which Portfolio Adviser understands will be permanent.
Simpson said: “I’m really pleased to be taking direct oversight of such a talented group of portfolio managers and bringing my own experience and expertise to the desk.
“Anthony has played an important role in the development of Quilter Investors. He leaves with our best wishes and I would like to thank him for the contribution he has made to the business.”
Shared role will add to workload
However, Adrian Lowcock, head of personal investing at Willis Owen, raised concerns about Simpson juggling the the new role with his chief executive duties.
He said: “For me there is always some concern when the investment role is shared as part of wider role. Trying to be a CEO and CIO runs the risk of not being able to focus on either effectively and the investment team reporting to the CEO adds a significant work load.
“So it is good to see if there is plans for this to be temporary and senior long-term successor will be looked for, however it is disappointing that the transition couldn’t have been smoother.”
Investors need stability
Quilter said its Generation range of risk-rated retirement income funds will continue to be co-managed by Paul Craig with the support of the wider portfolio management team. A senior level portfolio manager will also be named on Generation in due course, it added.
This appointment will be the second senior hire this year, following the appointment of Helen Bradshaw in February to spearhead the forthcoming Quilter Investors multi-asset income range.
Lowcock said: “There has been a lot of activity and news coming from Quilter and prior to that its former parent company. With the business separating from Old Mutual, the changes offer a natural time for some individuals to make a move or call time on their careers. However, investors are going to want to see some stability going forward.
“All good things come to an end and the longer someone’s career, the greater the likelihood the inevitable departure is. Gillham has been fundamental to Quilter’s multi-asset range first via Skandia, then OMGI and finally Quilter. The departure will leave a gap but multi-asset investing is a team approach so the disruption should hopefully be minimal.”
