LONDON (HedgeWorld.com)–Gartmore Group shuffled its top investment management executives, bringing in Quintin Price from Putnam Investments and allowing Peter Chambers to resign his position as overall head of investing.
The changes were made in part to better position Gartmore for the changes that have taken place in investment markets, with hedge funds and fixed-income investing taking on a greater proportion of growth and profits, said Glyn Jones, chief executive of Gartmore Investment Management plc, in a statement. “Given this background, we have been reviewing what leadership resources and structure are now needed in our investment management division to respond to these broad opportunities,” Mr. Jones said. (Gartmore Group is the parent company; Gartmore Investment Management plc is its U.K. operation.)
As a result of the changes, Gartmore now has separate global chief investment officers in equities and fixed income. Roger Bartley, who had been head of fixed income for Gartmore Investment Management, was appointed global CIO (fixed income). He will continue to be Gartmore Investment Management’s CIO of fixed income, as well.
Young Chin, who was U.S. CIO for all asset classes, was named global CIO (equities), a title he also will hold for Gartmore’s U.S. business. Quintin Price, who was head of global fundamental research for Putnam Investments, Boston, was named CIO (equities) for Gartmore Investment Management.
Gartmore will continue to build its hedge fund business, and the new organization should make that easier, said spokeswoman Vee Montebello. Among other hedge fund efforts, Gartmore’s hedge fund of funds subsidiary, Gartmore Riverview, earlier this month registered to sell a closed-end hedge fund in the United States.
Mr. Chambers’ departure was friendly, Ms. Montebello said. “He’s done a good job here. It’s very amicable.” She said she was unaware of Mr. Chambers’ future plans.
Gartmore Global manages US$69 billion in total, and US$2.9 billion in hedge funds, she said.