Back in December Portfolio Adviser reported on the appointment of Wagstaff as the third global head of distribution.
Before Wagstaff joined Kitts and Skinner were co-heads of global distribution, with Kitts broadly looking after the institutional side and Skinner the retail side of the business.
Wagstaff’s background in senior distribution roles at New Star and Gartmore mean he has experience across both wholesale and retail markets and since joining Henderson in January (following a shock departure from Skandia Investment Group) he has been reporting directly to chief executive Andrew Formica.
With the barriers between institutional and retail distribution blurring in the run-up to RDR (many fund houses have already announced RDR friendly, clean-fee share classes for retail investors that have been likened to the kind wholesale investors have had access to for years) it makes sense for Henderson to have one man that understands all channels.
A spokesperson for the group said it was unlikely to replace Kitts, who will stay on in a consultancy remit after his contract ends in July. This will allow for a lengthy period of handover to Wagstaff and the completion of specific projects.
In a statement, Henderson said: "After more than eight years at Henderson Arno Kitts feels this is an appropriate point for him to seek a new challenge. He will leave Henderson in July, but has agreed to help – on a consultancy basis for a number of months – with several ongoing projects such as client handovers.
"Since 2003 Arno has been in a number of roles and over that time has been a real asset to the business and we wish him the best of luck for the future."
