The investment manager has poached the chief executive of Aviva Investors to head up its business after its previous CEO moved on to a new role within the manager’s parent company.
In a statement, Newton Investment Management said it had appointed Euan Munro as its new CEO.
Mr Munro, who currently heads global asset manager Aviva Investors, would commence his position in June, the company said.
Newton said Mr Munro had been a member of Aviva’s executive committee for seven years, and previously had been head of global multi-asset and fixed interest at Standard Life Investments.
The appointment follows previous Newton CEO Hanneke Smits ascending to the role of CEO of Newton’s parent company, BNY Mellon Investment Management.
Newton’s chief operating officer, Andrew Downs, was currently filling the role of interim CEO and would continue in this position until Mr Munro joins the company.
Ms Smits said Mr Munro was “an exceptional leader with a proven track record in the investment industry”.
“We are delighted that he will be joining Newton as its chief executive officer,” she said.
“His investment credentials and extensive experience leading one of the UK’s larger asset managers with a presence in the institutional, intermediary and retail markets, are highly relevant to Newton and we look forward to warmly welcoming him soon.”
Mr Munro said it was an exciting time to be joining a manager full of talented people with a strong heritage in responsible investment.
“I’m looking forward to building upon this strong foundation and continuing to enhance Newton’s investment offering to help clients achieve their goals,” he said.
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