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Special Report

Impact investing


Cazenove raids HSBC for UK & European managers

UK- Cazenove Fund Management has announced the appointment of five UK and European fund managers from HSBC Asset Management. Chris Rice, Steve Cordell, Julie Dean and Wade Pollard will join the Institutional pan-European equity team at the beginning of December. Tim Russell, who is to head the team, will join at the start of 2003.

The additions confirm Cazenove’s intentions to boost its service to private clients, charities and institutions in the core areas of UK and European equities, fixed income and multi-manager investments, which were announced earlier this year.

With the five new additions, the pan-European equity fund management team will be nine-strong. Russell will report to Anne West, head of investments at Cazenove.

Managing fixed income funds is a team of seven which has also been expanded this year. The multi-manager team, a relatively new addition, employs three portfolio managers, although it is rumoured that a fourth will be joining in the very near future.

By coincidence, Jeremy Hervey, also from HSBC AM, will be joining Cazenove FM. Hervey will be managing portfolios for private clients and charities, as he did at HSBC.

Says Mark Horsfield, head of business development for institutional clients: “we are moving towards a specialist nature of managing money and developing investment funds. Having looked at our existing clients and our future intentions, these additions are absolute requirements.”

Cazenove currently manages around £8bn of assets on behalf of private clients, charities, investment funds and pension funds. About £2.5bn is invested in fixed income and the remainder in UK and overseas equities. Of the £8bn, around 40% is invested on the behalf of private clients, around 30% on the behalf of charities and around 30% on the behalf of institutions.

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  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

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