Threadneedle has hired Barings’ James Thorne to its UK smaller companies team as part of a trio of new additions to boost its UK equities division.
Thorne takes on responsibility for Threadneedle's £126.1m Smaller Companies OEIC in place of Dan Vaughan, who will remain head of UK Small Cap.
He will be replaced as manager of the £32m Barings UK Smaller Companies trust by head of mid and small cap Nick Williams while a review into the future of the fund is completed.
Threadneedle has also poached Equity Income and Growth fund manager Richard Colwell from Aviva to help boost its equity team. He will be replaced by Alex Wroe and Braydon Barcham.
Threadneedle's hires follow its announcement at the end of last year that Schroder UK Equity fund manager Simon Brazier would be joining the group. Leigh Harrison has now been promoted to overall head of equities for the asset manager.
Brazier joins as co-head of UK equities with responsibility for all UK equity non-income products. Meanwhile, Colwell will be part of the UK equity income team and will work closely with Harrison on the group's income range. Both were selected personally by Harrison, who will also act as co-head of UK equities alongside Brazier, while retaining his specific responsibility for UK equity income products.
Threadneedle chief investment officer Sarah Arkle says: "Leigh is an excellent investor, a great mentor and an effective communicator - all essential attributes for a head of equities. We believe it is important for Leigh, as head of equities, to retain fund management responsibilities, as being closely involved with the markets will enable him to lead the debate and idea generation, which is such a key part of our investment philosophy."
Thorne, Brazier and Colwell will join Threadneedle in March.
