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Deutsche's portfolio management head Wharton quits

Deutsche's portfolio management head Wharton quits

Deutsche Asset & Wealth Management’s head of discretionary portfolio management and strategy Paul Wharton is to leave the firm in late summer and will be replaced by Jonathan Marriott.

Wharton (pictured), who also sits on the bank’s 10-strong global investment committee, will stay on at the firm for the next few months and work closely with Marriott to ensure a smooth transition.

Wharton is leaving to pursue other opportunities. Marriott has been at the bank for 14 years where he is a director. He will head its UK discretionary business and chair the UK investment committee. He will report into Alvaro Vitorero.

Wharton was previously the bank’s chief investment strategist, but took on the additional role of UK head of portfolio management following the departure of Martyn Surguy to Morgan Stanley last March.

Wharton is responsible for Deutsche Asset & Wealth Management’s economic and market strategy as well as the income-oriented funds within the group’s UK onshore discretionary portfolio service.

He moved over to Deutsche following the bank’s acquisition of Tilney in 2006.

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