Simon Smith will not join Jupiter Asset Management upon completion of its acquisition of Merian Global Investors, with the former Merian head of wholesale set to join River & Mercantile as head of wholesale UK distribution amid a raft of distribution changes for Jupiter, Investment Week has learned.
Smith added: "I am incredibly excited to be joining R&M. It is a business with ambitious growth potential and collective determination to achieve its goals.
"I will be leveraging all of my 25 years' experience in the UK wholesale market to establish R&M as one of the leading asset management boutiques working alongside UK wealth managers and intermediaries while delivering a first-class investment and service proposition."
Earlier this month Jupiter named Merian's Warren Tonkinson as managing director of distribution, following shareholder approval of the £390m acquisition. Tonkinson will report to Jupiter global head of distribution Phil Wagstaff in his newly created role.
The deal, which remains subject to regulatory and shareholder approval, means the business will manage £65bn of investors' money in total, which will make it the UK's second-largest retail fund management firm.
The distribution moves come alongside a host of fund management changes and new strategies. As part of the integration, approximately 40 investment professionals, including 23 fund managers, will join Jupiter's investment team.
CIO of Jupiter Stephen Pearson said: "Jupiter and Merian have a strong cultural alignment with active, high conviction investing driving decisions on portfolio construction and management.
"We believe our newly combined product line-up offers clients an opportunity to access some of the best active funds available, managed by a world class fund management team."