UK - Morley Fund Management has lost its head of institutional marketing, Mark Miller who has resigned “to take time out” before deciding the next step in his career. He will be replaced on in interim basis by Vicki Rhind, head of marketing and communications, although she says there are no immediate plans to replace him.

Miller joined Morley in 1999 as head of marketing for its pooled fund range. He was later promoted to head of institutional marketing when the company’s parent company, Norwich Union, merged with insurance company, CGU, to form CGNU in 2000.

The resignation comes a few weeks after the company’s head of research Donald Tosh decided to leave by mutual agreement as he was unhappy with the direction the firm’s equity department was moving in.

Tosh was replaced by Sophie Blanpain, who has been with Morley’s research department since 1999. She most recently specialised in stock research and valuation methodologies.

“The two resignations are not linked in any way. Nor do they affect the overall strategy. Tosh decided to leave because he disagreed with the planned restructuring of the equity department and Miller wants some time off before considering other opportunities,” says Rhind.