Asia pivot contributes to Sarasin & Partners changes

Sarasin & Partners, the London-based asset management group that manages £13.6bn of assets on behalf of charities, institutions, intermediaries, pension funds and private clients, has announced significant partnership changes that will among other things support a business pivot towards Asia.

The company has announced that managing partner Guy Monson is handing over related duties so that he may focus on the role of chief investment officer. He will, however, remain as a senior partner in regards to strategic business development issues.

Stepping into the managing partner role is Guy Matthews, who joined the company in 1994 from Smith & Williamson where he had been a chartered accountant. Previously chief operating officer of Sarasin & Partners, that role will henceforth be taken on by Tim Temple, who joined the company in 2005.

Speaking about the changes, Monson said that his focus on investments going forward were being driven by key factors such as the impact of a zero interest rates environment as well as the need to evolve the thematic investments for which Sarasin & Partners is known.

“Fundamentally driven thematic opportunities will be in Asia and the emerging world rather than in developed markets,” he said.

The change to CIO also means that Monson will be able to commit to more regular travels to Asia, with an eye to themes in the region, such as the future of state owned enterprises, and the leapfrogging forward of online commerce.

Describing the new role as an “exciting” one, Monson added that the senior partner role alongside that of CIO meant that he would be “keeping an eye on the firm I’ve been with for so long”.

Commenting on the appointment of Guy Matthews as managing partner, Monson said that he was well suited to the role, and dealing, for example with post-Brexit challenges emerging.

Six more partners have been announced also by Sarasin & Partners. Monson said this fitted the objectives of ensuring long term specialists – “We are noted for a low turnover of staff,” he added.

“It’s a classic story of partnership values in a modern structure.”

The new partners are: Chris Bell (Legal Counsel), Edward Campbell-Johnson (Private Clients), Phil Collins (Asset Management), Ruadhri Duncan (Charities), Melanie Roberts (Charities), and Tim Temple (Operations).

Brexit

The Brexit issue is an important one for Sarasin & Partners. As a limited liability partnership it is authorised and regulated by the UK Financial Conduct Authority, and passported under Mifid to provide investment services in the Republic of Ireland.

Monson said that there is a “vibrant” business in Dublin, from where a euro denominated range of all the company’s charitable products is offered.

“We are very committed to Ireland,” Monson continued.

“We see it as a core market for us. We will continue with passported structures permitted under European rules. Were that to change, we would make whatever changes are necessary – for example, if we were required to start a branch there we would consider that.”

Sarasin & Partners recently joined up with the London School of Economics to host an event that discussed through the implications of the Brexit vote. Further details are available in a report here:  http://www.sarasinandpartners.com/docs/default-source/insights/sarasin-and-partners-what-now-eu-referendum-report

 

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