UK – London-based asset management group, Friends Ivory & Sime (FIS), has announced its new enlarged institutional management team. Though there is no change to the company’s strategy, FIS hopes to penetrate the institutional insurance market as well as build on its institutional pension fund client base.

The expanded team is the result of the acquisition earlier this year by FIS of Royal & SunAlliance Investments (RSA) and will be led by Robert Matthews, director of institutional business at FIS.

Says Matthews: “We have essentially now formed a definitive wing that can take care of institutional pension fund clients and consultants. But we also intend to build up our institutional insurance business, given the experience in this area we have inherited from RSA.”

The new team comprises Chris Clarke, Howard Daldorph and Jon Yates from RSA and Polly Watts, Brian Corris, Bibi Tabisim and Mark Barrington who were already with FIS.

All will have director status and Matthews says this is only the top tier. “Overall, the institutional division now numbers more than 30. Other than the directors, there are client support, communications and admin teams,” he comments.