ISIS names Currie as N. American equities head

UK - ISIS Asset Management has appointed David Currie, former head of the US desk at Edinburgh Fund Managers, as head of North American equities.

Currie will manage the ISIS North America fund and lead the four-strong North American desk.

Currie said he would “concentrate on revamping the portfolio to focus on a more concentrated number of stocks” in the next quarter.

EFM was bought for 36 million pounds (51.8 million euros) by Aberdeen Asset Management in September.

Aberdeen’s chief executive Martin Gilbert said at the time that the aim was to “consolidate the combined group’s position in the fund management industry and it will reassert the importance of independent third party asset management”.

EFM also sold 900 million pounds of retail funds to New Star Asset Management for 33 million pounds (47.5 million euros), as part of the deal with Aberdeen.

The addition of Edinburgh’s 3.2 billion pounds of institutional assets took Aberdeen’s total assets under management to almost 25 billion pounds.

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