Casualties as Perennial refocuses
Perennial Investment Partners has moved to refocus its international investment business with two senior appointments and an internal restructure that sees the departure of three members of its core International Fund team and the elevation of Clay Carter.
The moves at Perennial see Carter take on portfolio responsibility for the Global Shares High Alpha portfolios and the Perennial International Shares Portfolio.
Announcing the moves today, Perennial managing director Anthony Patterson attributed the changes to adviser and client feedback, which had acknowledged the high performance of the Global Shares High Alpha Trust and suggested they wanted to see more resources dedicated to Carter.
The new recruits within Perennial are former UK-based JP Morgan Asset Management manager James Soutter and former New York-based equities analyst Nayan Sheth.
Patterson said that as a result of the decision to refocus on the high alpha process, three employees, Scott King, Alistair MacDonald and Bill Murphy, who had been more focused on the more traditional approach for Perennial’s core International Fund, would be leaving the company.
He said Carter would not only have portfolio responsibility for the Perennial Global Shares High Alpha portfolios and the Perennial International Shares Portfolio but also oversee the North American and emerging markets parts of the portfolio.
AUTHOR
Mike Taylor
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