Sagitta exodus continues with Fleming departure
Theexodus of senior executives from theSagitta Rothschildgroup has continued, with the resignation late last month of the head of the group’s small caps team, David Fleming.
Fleming, who has 14 years of investment management experience, will be replaced by another current member of the small cap team, Matthew Riordan.
TheLonsecresearch group says while Sagitta has a relatively large small cap team to fill the gap left by Fleming, his experience would be a significant loss.
The research house says it will maintain its ‘hold’ rating on Sagitta’s Small Companies Fund, as well as the Australian Small Companies Fund run by its stable mate, BT.
Fleming’s resignation is the latest in a long line of departures from Sagitta since its buyout by the Westpac Bank and merger withBT.
Earlier this month, the Sagitta’s head of Australian equities, Andrew Brown, left the group in acrimonious circumstances to be replaced by BT’s Crispin Murray.
Sagitta chief executive Peter Martin, chief investment officer Jonathon Pain, chief operating officer John Tuxworthy and head of retail Chris Larsen have also left the group since its takeover by Westpac last year.
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
