People moves carousel increases its spin

Flurry of managers switching companies

The asset management industry has always had a steady series of people moves, particularly on the sales and distribution side, but recently the number of new role announcements has ramped up a notch.

Let's recap on the array of distribution personnel moving into new positions. Last week, in a bizarre coincidence, there was essentially a people swap between BNY Mellon and Standard Life Aberdeen (SLA). Michael Beveridge, who Investment Week revealed was among a raft of departures from the sales team at SLA in February, was announced as (technical) successor to Fergus McCarthy in the role of head of UK intermediary distribution (McCarthy having previously been head of UK and Ireland distribution), while McCarthy turned up at SLA as UK distribution director for regional accounts. A...