Morley Fund Management, one of Europe’s largest fund managers, has appointed Tim Thomas to the new role of head of equities.
Morley Fund Management, one of Europe’s largest fund managers, has appointed Tim Thomas to the new role of head of equities. Tim joins Morley in September 2005 and will report to Katherine Garrett-Cox, chief investment officer.
Tim comes to Morley with more than 23 years experience in investment and business consultancy. He joins Morley from McKinsey & Co where he has worked with large European insurance and asset management clients for the past four years. Prior to McKinsey, Tim spent 13 years at Investec Asset Management, initially joining Guinness Flight Asset Management, which was acquired by Investec in 1998. Tim was head of equities at the company from 1992-2000.
As head of equities at Morley, Tim will oversee more than a quarter of Morley’s Ł129 billion assets under management or around Ł33 billion of funds across active UK, European, US, emerging market, Asian and global equities, including socially responsible investments. He will have overall responsibility for Morley’s equity investment process and performance. Working with Morley’s Distribution team, he will also focus on maximising the commercial potential of Morley’s equity products.
Katherine Garrett-Cox, chief investment officer at Morley Fund Management, commented on the appointment: "Tim brings the blend of investment and business experience that this challenging role demands. Tim has extensive hands-on experience of managing money but, just as importantly, he is a skilled ‘manager of fund managers’. The broad market experience Tim gained in the consulting world will be extremely valuable as he works with the equity team to help deliver Morley’s overall business strategy."
Tim’s appointment follows Morley’s strategic review and creation last year of a new structure for the equities department which saw the integration of fund managers and analysts into smaller, more focussed and more collaborative teams. The changes, which were completed last year, have started to pay dividends. For example, four out of five of Morley’s mainstream UK equity funds have delivered first quartile performance over the last six months, namely the Norwich UK Equity Fund, Morley UK Focus Fund, Norwich UK Equity Income Fund and the Norwich UK Income & Growth Fund (as at 31 May 2005).
Direct reports of Tim Thomas, head of equities at Morley Fund Management
Lloyd Whitworth, head of UK core equities
David Lis, head of UK specialist and small cap equities
Rita Dhut, head of European equities
Niall Paul, head of emerging markets and Asia
Penny Kyle, head of US equities
Peter Michaelis, head of SRI
Michael Jennings, head of global equities
Anita Skipper, head of corporate governance
Morley employs 54 equity investment professionals
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For further information please contact:
Monina Villaroman, Corporate Communications Manager 020 7809 8618
Laura Cook, Corporate Communications Executive 020 7809 8125
Notes to editors:
Morley Fund Management
Morley Fund Management Limited (Morley) is a London-based asset management business with over Ł128 billion* under management. It actively manages a diverse range of asset classes and employs in the region of 200 investment professionals. Companies in the Morley Group have operations in Boston, Dublin, Luxembourg, Melbourne and Warsaw. Morley has representative offices in Milan and Madrid.
Morley is a wholly owned subsidiary of the Aviva 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, and international funds marketed under the Aviva Funds brand.
*as at 31.03.05. Not including mortgage assetsFurther information about Morley Fund Management can be found at www.morleyfm.com
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Morley Fund Management is a business name of Morley Fund Management Limited, registered in England No. 1151805. Registered Office: No. 1 Poultry, London EC2R 8EJ. Authorised and regulated in the UK by the Financial Services Authority and a member of the Investment Management Association. Morley Fund Management is also a business name of Morley Fund Management International Limited. Both are Aviva companies.
Contact us at Morley Fund Management, No. 1 Poultry, London EC2R 8EJ.