UBS replaces departed team member

UBS Global Asset Management (UBSGAM) has replaced one of the two portfolio managers who suddenly resigned from its small caps team last month, with another appointment on the way.

Victor Gomes has been appointed new portfolio manager for the Australian Small Companies Fund and will co-manage the fund with Stephen Wood – the only remaining member of the previous three-person team.

Earlier this month, Jeremy Bendeich and John Campbell had confirmed they were leaving UBS, with researcher Standard & Poor’s Fund Services placing the company’s small caps fund ‘on-hold’.

Gomes had moved from Selector Funds Management with 17 years of investment management experience. He also co-founded Hayberry Investments, gaining investment management experience at Platinum Asset Management and BT Funds Management.

Gomes will commence with the small cap fund on 9 May, with the head of UBSGAM, Ben Heap, saying the appointment would “strengthen the team and broaden its capability”.

The company has confirmed it will soon be announcing another appointment.

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