Insight hires Schroders’ European research head
UK - Insight Investment has hired Schroder Investment Management’s head of pan-European research, Nick Anderson, to be its new head of equity research.
Anderson, 38, will report to co-head of equities and institutional chief investment officer Alan Denholm. He is expected to join Insight in November.
A Schroders spokesman said Anderson would be replaced by Mark Bridgeman, 35, who is currently head of global sector research.
Anderson’s move comes as Insight says it has nearly completed the integration of Rothschild Asset Management. Insight’s parent, UK bank HBOS, said that the integration of the Rothschild business is “nearing a successful completion”.
Rothschild, bought in January 2003 for 96 million euros, added nine billion pounds of assets to Insight’s total assets under management, HBOS said. It added that Insight’s funds under management rose by 19% to 68 billion pounds at June 30.
It also said that the acquisition was helping to position Insight as a player in the institutional fixed income market and as one of the UK's leading fund-of-fund providers.
It said the fortunes of Insight were “linked in the near term to the market” although the Rothschild buy meant it was “better positioned in any foreseeable market scenario”.
Sales at its St. James's Place Capital wealth management arm were 17% lower at 69 million pounds as wealthy clients waited for evidence of a sustained stock market recovery.
Overall HBOS, the UK’s fourth-largest bank, reported a 21% rise in first-half pre-tax profits of 1.8 billion pounds.