Jupiter Asset Management is merging its UK retail and UK wealth sales teams under the leadership of John Tevenan (pictured), with head of UK retail James Crossley leaving the firm.
Crossley has worked at Jupiter since 2004 and oversaw UK retail distribution and the retail sales team.
Head of wealth John Tevenan, who has worked at Jupiter for eight years, will manage the combined retail and wealth sales teams.
The restructure comes in light of changes to the UK distribution landscape driven by the FCA's Retail Distribution Review, that have seen businesses increasingly adopting a vertical integration strategy, with a greater use of segregated mandates and retail distributors outsourcing their investment processes to wealth managers.
Nick Ring, global head of distribution at Jupiter, said: "We have today announced a restructure of our UK sales operation, bringing our wealth and retail teams together under the leadership of John Tevenan.
"John, who has worked at Jupiter for eight years, has a deep understanding of the wealth management market in the UK and this new structure will ensure we are best able to meet the needs of our clients given the increasingly blurred boundaries between wealth managers and retail distributors.
"Unfortunately James Crossley, who headed the UK retail team, has decided to leave the company and seek a fresh career challenge. We are very grateful for the contribution he has made and wish him well for the future."
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