Liontrust axes Hollyman's global equity team

Liontrust has closed its global equities desk, led by Ross Hollyman, less than a year after the team joined.

Hollyman, along with Rob Cornish, Nikki Martin and Tom Ayres, joined Liontrust in October 2009 from Gam. They are now on gardening leave with immediate effect. The arrival of the team did not stem outflows, and Liontrust cut its dividend this month after profits slumped from £14.3m to £796,000 over the year to 31 March. When the hires were announced, then-chief executive Nigel Legge said they would be "a key part of Liontrust's strategy to broaden our product range and add value to investors". Liontrust says: "This decision is in line with the company's review into increasing p...