Ex-Gartmore head of retail Pursglove joins GSAM

Richard Pursglove has joined Goldman Sachs Asset Management (GSAM) as head of the UK third party distribution business in a bid to expand sales among discretionary managers and fund of funds.

The former Gartmore head of UK retail will lead a team of nine sales and marketing individuals selling GSAM’s equity, fixed income and money market strategies, which have £7.1bn under management in the UK.

Pursglove will report to Nick Phillips, head of third-party distribution in EMEA, who said: “With RDR in the UK and different channels opening up to us, Pursglove’s experience will enable us to bring our SICAV family of funds and sub-advisory skills to discretionary managers and fund of funds managers.”

GSAM has been expanding its sub-advisory business in the EMEA region over the past two years and has now turned its attention to the UK.

So far this year the group has brought its Next 11 Equity fund to the UK market, an emerging markets concept devised by chairman Jim O’Neill; and a Strategic Income fund.

Pursglove was not among the staff members who moved across to Henderson following its takeover of Gartmore in April this year.