John Mercer has joined the list of Co-operative Banking Group alumni to have left Royal London since its acquisition of the former’s fund management and life insurance businesses last year.
Mercer, who had worked at Co-operative Asset Management for more than 10 years, became its chief investment officer in 2010. He had served as head of fixed income there for the prior four years.
A spokesperson for Royal London Asset Management told Wealth Manager that Mercer had departed as part of the consolidation process following the £219 million acquisition.
Robert Talbut remains as Royal London Asset Management’s chief investment officer.
Mercer had been a prominent advocate of responsible investing, and last year for example co-signed a letter to the Treasury Select Committee calling for an investigation into allegations that senior Treasury economists blocked a review into the effects of climate change on the UK economy.
Other senior investment executives from the Co-op side to have exited Royal London this year alone include formerly AA-rated bond manager Jamie Bebb, A-rated UK equity manager Neal Foundly, head of external funds Linda Desforges, bond manager Daniel Fox, portfolio manager Elaine Fox, and Simon Yarwood, who was head of equities and derivatives trading and also ran the Co-op’s FTSE4Good tracker fund.
Set against this Royal London strengthened its sustainable investment team in the North West last month by recruiting former Swip UK equity manager Jon Bale.