RCM loses two managers to Schroders and BlackRock
Schroders and BlackRock have each announced appointments from Germany’s RCM, the equities specialist within Allianz Global Investors.
The announcements come as RCM faces changes to its management structure, from January.
As part of changes its ultimate parent Allianz announced last week to its €1.4trn asset management operations, AGI will come under global leadership under chief executive Elizabeth Corley.
Meanwhile, though, BlackRock said it had recruited Simon White (pictured) from RCM to be its head of investment trusts. He played a similar role while at RCM.
White reports to Jonathan Ruck Keene, who becomes BlackRock’s head of closed-end funds, EMEA. He will share board responsibilities with White.
Ruck Keene will take responsibilities for BlackRock’s push into European markets, and its readiness for the EU’s AIFM directive.
At RCM, White took responsibility for developing the unit’s range of closed-end funds, a role he assumed when Dresdner RCM Global Investors was created in 1997.
Ruck Keene said: “With the implementation of RDR and AIFM Directive likely to have a significant, and positive impact on the closed ended funds sector in both the UK and Europe respectively, Simon’s wealth of experience and expertise will help us to build out our business yet further.”
Meanwhile Schroders has hired Sue Chan from RCM to be a portfolio manager in its international equities team, which ran about €12bn in the middle of the year.
She joins Schroders in London in November. At RCM she was a senior portfolio manager for global equities and a lead portfolio manager of RCM’s global sustainability funds.
At Schroders she will report to Virginie Maisonneuve, head of global and international equities.
Before joining RCM, Chan spent nine years at BlackRock, holding roles including senior portfolio manager of core and diversified institutional accounts, and portfolio manager of the retail Global Equity fund.
Maisonneuve said: “The global and international equities team’s philosophy is based on teamwork and focuses on building high conviction portfolios using a disciplined approach identifying quality growth companies selling at attractive valuations.”
In other developments at Schroders, Chris Costanza has become a global sector specialist for financials in the global equities team. He has worked as a financial analyst on Schroders’ Large Cap US team.
Schroders also announced the appointment of Charles Neus as director of distribution for insurance companies. Reporting to Achim Küssner, head of Schroder Investment Management GmbH in Germany, Neus joins from J.P. Morgan Asset Management, where he was leader of retail insurance for five years.