Marathon AM taps Majedie for equities managers

London’s Marathon Asset Management has hired two senior managers from Majedie Asset Management to bolster its ranks after one of its own founders announced he would leave the firm after 26 years in December.

Marathon has hired Simon Todd and Michael Nickson, starting in December, from rival manager Majedie Asset Management.

Marathon was itself left with a gap after Jeremy Hosking announced he was leaving, 26 years after co-founding the London firm.

Other employees, whom Marathon said in a recent stock exchange announcement have “significant responsibility for the investment management of the assets of the company”, also plan to leave in December.

Todd and Nickson will help fill the gaps. The duo worked together, briefly, at Odey Asset Management, before their move to Majedie in 2010. Before joining Odey, they had worked at MFS Investment Management.

Part of their work at Marathon is likely to include making a contribution to the firm’s closed global strategy, whose track record stretches back to 1986. Since then, it made on average 11.43%, about 4% per year more than its MSCI World index benchmark, according to the firm.

Beside Hosking on the strategy sit seven advisors with a mixture of global and regional remits. Hosking has made the asset allocation decisions for the product, according to the firm’s website.

At Marathon he has also been responsible for the firm’s investments in southeast Asia and the Americas. He has also covered South Africa, and shared responsibility for the company research with James Seddon, Louise Keeling and Luke Bridgeman.

He has publicly made some significant correct calls on markets, in particular about southeast Asia by writing a piece entitled ‘South East Asia: Eighteen Reasons to be Bearish’ in August 1995, two years before the region suffered its own sharp banking and financial crisis.

A spokesman for Marathon was not immediately available for comment on the firm’s latest appointments.

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