Trio of Co-op managers exit RLAM

Three Co-operative fund managers have left Royal London Asset Management following the integration of the two businesses.

Linda Desforges managed the CIS European Growth, CIS US Growth and top-quartile CIS Sustainable Diversified funds, with assets totalling around £620m. Meanwhile Neal Foundly, manager of the £430m CIS UK Income with Growth trust and Daniel Fox, manager of the £358 million CIS Corporate Bond Income trust, have also left the group. RLAM did not provide detail of who will be running the funds in future. The departures follow Royal London's June 2013 agreement to purchase the troubled Co-operative Banking Group's insurance and asset management arms in a deal valued at £219m. Royal Lo...