Ignis cuts UK equity managers in restructure

Ignis has restructured its UK equity team resulting in the departure of the head of desk and four analysts from the team.

CIO Mark Lovett began reviewing the UK funds when he joined from Allianz RCM in October 2010 and made the decision to remove Neil Richardson, formerly head of UK equities, and four analysts in a bid to improve performance of Resolution's legacy life company funds. One of the analysts has joined the Asian team while the others, Finlay MacDonald, Gary McAleese, and John Stewart, as well as Richardson, are in discussions with Ignis over other roles within the company. Lovett has taken over the management of the life company mandates and is expected to recruit new analysts in due course. ...