Morley Fund Management (“Morley”) has announced several key changes to the structure of its Board to further enable it to fulfil its global ambitions. The changes to the roles of the Board members will ensure that the skills and capabilities of the Morley Board are best aligned to drive Morley’s ambition to become a world class fund management business.
Morley Fund Management (“Morley”) has announced several key changes to the structure of its Board to further enable it to fulfil its global ambitions. The changes to the roles of the Board members will ensure that the skills and capabilities of the Morley Board are best aligned to drive Morley’s ambition to become a world class fund management business.
A key structural change is the appointment of two Deputy Chief Executive Officers which will enable Keith Jones, Chief Executive Officer of Morley to focus on:
- Implementation of Morley’s strategic plan
- Building Morley’s external market profile and forging strong client relationships
The role of the Deputy Chief Executive Officers will be to concentrate on the execution of Morley’s business.
The following changes take effect immediately:
Gerard Quirke, formerly Managing Director Europe, will take on the role of Deputy Chief Executive Officer and Chief Financial Officer, with responsibility for Finance, Compliance and Legal. Gerard’s financial background as a Managing Director at AMVESCAP together with his experience at the client and business development areas at Morley means he is ideally placed to develop the systems and disciplines which we need to underpin sustainable growth.
Malcolm Le May, formerly Managing Director International, will move to the role of Deputy Chief Executive Officer and Managing Director Europe. Creating a pan- European business is a key element in Morley’s plan within which the priorities include developing much stronger distribution capability across Europe and, where appropriate, working closely with CGNU’s European asset management businesses. Malcolm’s strategic experience within Europe as Deputy Chief Executive at ING Barings and UBS Warburg, make him an ideal candidate for this role.
Dean Stannard will move from his role as Head of Compliance, to the role of MD International, where he will focus on the development of Morley’s business activities in the Americas, Asia and the Pacific Rim. Dean has a strong background in the development of global asset management business having previously spent seven years at Fidelity Investments, helping develop Fidelity’s business in Europe and Asia.
Mike Gould takes up the role of Head of Compliance, reporting to Gerard Quirke. Before joining Morley, Mike spent 12 years with the FSA, most recently as Manager of the Product Assessment Team within the Collective Investment Schemes Department.
Other Board positions remain unchanged with Gerald Holtham as Chief Investment Officer, Jan Nuttall as Managing Director Human Resources and David Tremblay as Global Chief Operating Officer.
Keith Jones, Chief Executive Officer at Morley, commented: “The Board of Morley has an impressive range of business management skills and market experience which will lead us towards our vision and the achievement of our goals. These changes will ensure the Board’s skills and capabilities are better placed to deliver the aims and ambitions of the business on a global scale. With over Ł100 billion under management, a robust investment process and team and one of the broadest product offerings ranging from equities and bonds through to property, hedge funds and SRI we are already a leading fund management house in the UK. With this new board we now have the right people to transform us into a business which will become one of the major global players.”
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For further information please contact
Morley Fund Management
Keith Jones 020 7809 6006
Gerard Quirke 020 7809 8601
Malcolm Le May 020 7809 8100
Notes to Editors
- Morley Fund Management (‘Morley’) is an independently managed, London based, asset management business with over Ł100 billion under management. It has investment management operations in London, Tokyo and Singapore and an associate office in Boston*.
- Morley is a wholly owned subsidiary of the CGNU Group and manages both institutional and retail funds under the Morley brand. It also acts as investment manager for a range of retail investment funds, marketed in the UK under the Norwich Union brand.
- CGU plc and Norwich Union plc merged on 30 May 2000 to create CGNU plc, the UK’s largest insurance group and one of the top-five insurers in Europe with substantial positions in other markets around the world, making it the world’s seventh largest insurer based on gross worldwide premiums.
*Norwich Union Investment Management, a CGNU Group company
Morley Fund Management is a business name of Morley Fund Management Limited, registered in England no. 1151805. Registered office: 1 Poultry, London EC2R 8EJ and Norwich Union Investment Management Limited, registered in England no. 2152949. Registered office: 8 Surrey Street, Norwich NR1 3NG.
Both are CGNU Group companies and are regulated by the Financial Services Authority