The UK's best-known institutional manager is branching out into the wholesale market. Hardeep Tawakley meets Harriet Steel, the head of business development leading Hermes' historic move to retail.
Hermes Fund Managers is currently in the throes of a transformation. Five years ago, the group was best known as an institutional fund house, wholly owned by and managing the UK’s largest pension fund, BT, and controlling assets worth £26.5bn. Since 2011, however, the group has branched out with the launch of a new wholesale business arm. Under the leadership of business development manager Harriet Steel, Hermes has successfully moved into the world of retail investing, with the launch of three of its funds to the market. Under Steel’s direction, the group is now growing fast, with a...
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