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Churn and changes are continuing in the race for talent in the funds management sector, according to new research released by Standard & Poor’s (S&P).
The research house said today that 15 senior portfolio management professionals, representing almost 320 years of collective experience, had left their firms in the first quarter of this year.
S&P said these departures had affected $10 billion in funds under management.
Commenting on the research, contained in S&P’s inaugural quarterly report Musical Chairs: Fund Managers on the Move, S&P head of fund research Leanne Milton said the sudden loss of experienced portfolio managers had the potential to materially affect a company’s reputation, cause significant team instability and increase the likelihood of ratings actions.
