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Deutsche wealth arm loses third portfolio head in two years
by James Phillipps on Oct 24, 2013 at 10:58
Deutsche Asset & Wealth’s UK head of portfolio management Jonathan Marriott is to leave the company at the end of October, just seven months into the role.
Marriott is taking early retirement and will be replaced by Robin Perry, a director at the bank’s private client arm.
Perry will become the bank’s third UK portfolio head in 20 months, following a number of recent high profile departures.
Marriott, who had been at Deutsche for 14 years, took on the role in April after the incumbent, Paul Wharton (pictured above), announced he was set to leave in September.
Previously the bank’s UK chief strategist, Wharton was named head of portfolio management after his predecessor Martyn Surguy quit to join Morgan Stanley. Wharton held the position for just over a year before joining Tacit Investment Management last month.
Perry has been working in tandem with Marriott over the past couple of months to manage the transition. He joined Deutsche in August 2009 from Barclays Wealth, where he had been responsible for research and analysis across its fund proposition.
Prior to this he was an analyst at Gerrard and a portfolio manager at Schroder Personal Investment Management in a career in financial services spanning more than 20 years.
More broadly, Deutsche Bank has been carrying out a strategic review of its Asset & Wealth arm. Although it has reaffirmed its commitment to wealth management, the regional branches of the Tilney private client business it bought in 2006 were put up for sale several months ago.
A deadline of early September for the disposal was mooted although this has since passed and there have been no formal announcements.
Deutsche Asset & Wealth declined to comment.
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