Morley Fund Management, one of the UK’s largest active fund managers, announced today the resignation of Keith Jones after seven years as CEO of Morley.
Morley Fund Management, one of the UK’s largest active fund managers, announced today the resignation of Keith Jones after seven years as CEO of Morley. Keith will leave the company at the end of this year. His decision comes after Morley delivered a 45% increase in profits year on year for the six months to 30 June 2006.
Keith Jones commented: “After seven years at the helm, I have decided it is appropriate for me to take a short break before taking on new and different challenges in the City. I have enjoyed working with the team immensely and I leave confident of Morley’s ability be to be highly successful within the fund management industry in the coming years.
“I am extremely proud of what Morley has achieved since it was formed in 2000. The company has maintained the momentum of consistent growth since that time, up to a record set of results earlier this month. I am also particularly proud of the positive contribution that the firm has made to the evolution of good corporate governance in the UK.”
Keith joined Norwich Union Investment Management as CEO in 1999 and was appointed CEO of Morley at the time of the merger between Norwich Union and CGU. Keith is a respected commentator on industry issues, having recently completed his term as chairman of the ABI Investment Committee. He is also a board member of the IMA.
Executive search firm MWM Consultancy has been appointed to conduct the search for Keith’s successor.
Philip Scott, group executive director of Aviva and chairman of Morley said: “Morley is Aviva’s largest fund management business, a leader in the UK and with a growing presence in Europe with a strong investment platform and access to powerful distribution channels. Under Keith’s leadership, Morley has delivered strong financial and operational performance that establishes a foundation to achieve future growth. Keith leaves the legacy of a cohesive and energetic Board with a wealth of experience and skills to take the firm forward in its next stage of development.”
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For more information contact:
Fiona Baker
Head of Corporate Communications
Telephone: 020 7809 8617
Notes to editors:
Keith Jones
Keith Jones is the chief executive of Morley Fund Management, a leading European fund manager, and the largest asset management business of Aviva plc, with in excess of €200bn of funds under management worldwide. Keith is a member of the board of the Investment Management Association and the most recent past chairman of the Association of British Insurers (ABI) Investment Committee and chairman of that Committee’s CEO Panel.
Keith joined the Aviva group in 1999 as managing director of Norwich Union Investment Management and stepped into his present role in April 2000 following the merger of CGU and Norwich Union. He was previously chief executive of NPI Asset Management, executive director at Lazard Brothers & Co and a director and partner of James Capel & Co. He has also worked as an economic advisor to the UK Government and as an economic consultant to the Henley Centre.
Keith holds an MA from Oxford University and MSc from London University.
A photo of Keith Jones is available on aviva.com:
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Morley Fund Management
Morley Fund Management Limited is the UK-based asset management business of Aviva plc. Firms within the Morley group of companies manage Ł155bn from offices around the world as at 31 May 2006.
Morley 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.
Awards
- Property Fund Manager of the Year, Pensions Management Awards 2006
- Best Commitment to Raising Standards of Trustee Education, Engaged Investor Awards 2006
- Property Fund Manager of the Year, Property Week Awards 2006
- SRI Provider of the Year, Global Pensions 2006
- Central European Property Awards 2005 - Outstanding Company of the Year & Investor of the Year
- UK Pensions Awards 2005 – Property Manager of the Year
- Property Week Awards 2004 – Best Property Fund Manager
- Pensions Management Provider Awards 2003 – Best Property Fund Manager
- Fund Manager of the Year - Pensions Week Awards 2002
- Specialist Manager of the Year - UK Pensions Awards 2002
Further information about Morley Fund Management can be found at www.morleyfm.com