Veteran gatekeeper exits Scottish Widows and Lloyds Banking Group

Veteran gatekeeper exits Scottish Widows and Lloyds Banking Group

Veteran fund gatekeeper Jon “JB” Beckett will be leaving Scottish Widows and Lloyds Banking Group at the end of the year, after eight years during which he co-founded the Fund Manager Assessment team with coverage across £180bn of assets.

Speaking on the change, JB said: “Being a professional fund investor remains a challenging and rewarding career. After 20 years on the front line, assessing almost 3,000 fund managers, and having helped to select one of the largest mandates in asset management history; the timing is right for the next chapter in my career.”

“I look forward to continuing my industry and academia work whilst supporting firms through their governance, sustainability and assessment of value journeys. In giving up my  gatekeeper role I will have more time to devote to non executive life.’”

As a speaker and writer, JB is author and founder of ‘New Fund Order’, which aims to enable the industry through technology. He is also UK Director for the Association of Professional Fund Investors, Advisory Board member and ambassador of the Transparency Task Force, Advisory Board member of the SharingAlpha fund rating platform, and member of the Oversight Committee and Alumni ambassador for the Stirling University Student Managed Investment Fund (SMIF).

He is also a guest lecturer including Stirling and Herriot Watt universities and lecturer for FintechCircle Institute, co-author of ‘The WealthTec Book’ and author and senior reviewer for the Chartered Institute for Securities and Investments.

Recently, Scottish Widows announced that BlackRock had been selected to manage £30bn of assets in index strategies, following a review by Scottish Widows and Lloyds Banking Group’s Wealth business of their asset management arrangements.

This was followed by the announcement that Schroders had been appointed the active manager of £80bn of Scottish Widows Insurance and Lloyds Wealth assets, following a selection process that was triggered by the merger of Aberdeen with Standard Life – as this effectively led to Scottish Widows being serviced by a competitor, Standard Life. Scottish Widows/Lloyds announced earlier in 2018 that it would seek to reconsider its management deal with Aberdeen, which contained a break clause related to situations in which Aberdeen might be taken over by a competitor to Scottish Widows.

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