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Insight investment chief Deakin to retire

UK - Michael Deakin, chief investment officer of Insight Investments, has retired, and will be setting up his own consultancy.

Deakin had been with Insight Investments, the fund management arm of HBOS, for nearly 30 years, and had overseen a major transition of the investment business. HBOS acquired Rothschild Asset Management in December and integrated the business into Insight.

Deakin will be replaced by Abdallah Nauphal, who will remain managing director of Insight’s fixed income business, and will be supported by Adrian Grey. Alan Denholm is appointed deputy chief investment officer.

The re-organisation forms part of a company review of the investment management structure. A new unit has also been introduced – financial solutions. Andres Giles will head up the new group which is intended to extend Insight’s product universe, and offer clients precise financial solutions to their specific needs.

Chief executive Douglas Ferrans said: “Now that the integration is behind us and our new procedures and colleagues have bedded down well, we are ready to position ourselves for the future.

“We are moving to a world of absolute returns and, in the case of pension fund clients, liability matching. This new platform is more evidence of our commitment to provide innovative financial solutions and become the new force in asset management.”

Insight’s assets under management as at June 30 2003 totalled 67.7 billion pounds.

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