AMP Capital announced the appointment of a global head of equities based in London, even as the firm announced members of its multi-strategy equities team had resigned.
The firm has appointed Sarasin and Partners’ co-head of asset management, David Allen to the new role, who will look after all equities teams across four global locations under the one umbrella, and which have $40 billion in assets under management.
Allen will begin his role in March 2016 and will report to AMP Capital global equities and fixed income chief investment officer, Mark Beardow.
The appointment comes as AMP Capital announced a new structure as part of its 2020 strategy, in which Quant would remain part of the equities investment philosophy but there were no plans to rebuild a standalone team, the firm said in a statement.
It also said it was working with clients of the team members who resigned to transition them to appropriate management arrangements.
Members of the multi-strategy equities team have joined industry-funds backed IFM Investors, which announced nine new hires as it looked to expand its active equities capability into large caps.
Prior to Sarasin and Partners, Allen was co-head of London Equities with Fidelity International, and has also held equity research, fund management and leadership roles at Pioneer Investments.
AMP Capital has also appointed Richard Colquhoun to the Australian Fundamental Equities team as senior portfolio manager. He will begin the role in January 2016 and will be responsible for the equity opportunities fund and concentrated fund.
He was previously an investment manager at Antares Capital, where he was responsible for both long-only equity and long-short active extension portfolios.
