Loweth steps down as AXA IM UK sales head

UK - Nigel Loweth has stepped down as head of UK institutional sales at AXA Investment Managers to become director for global consultant relations at the firm.

A spokeswoman said it was a "massive promotion" for Loweth, who had been in the job since 2003. AXA said he would now be working alongside Joanna Munro, head of global consultant relations and head of UK institutional business development.

Loweth would co-ordinate relations with global consultants. Kirsty Bendahan becomes Paris-based consultant relations manager, reporting to Loweth.

Munro said that 80% of UK mandates come through consultants and that Loweth's role has "evolved" to take account of this channel. "We won't have a specific head of institutional sales.:

AXA said Loweth would support its institutional strategy, “in particular the promotion of AXA IM's multi-specialist approach and liability-driven strategies”.

"The creation of the global consultants team reflects the increasing global context within which consultants now operate,” Munro said. “In creating this dedicated resource, we are able to provide a co-ordinated and cohesive response to all cross-border and country-specific consultant requests.”

AXA IM has around 303 billion euros under management and had a net inflow of 9.5 billion euros of institutional business in 2003.

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