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Fabien Pictet CEO quits for ex-GAM man’s boutique

Fabien Pictet CEO quits for ex-GAM man’s boutique

Michele Wood has left her role as chief executive of Fabien Pictet & Partners to join a boutique set up by a former GAM Japanese equities star.

Wood has been appointed as chief operating officer of PK Investment Management, which was established in 2002 by Paul Kirkby.

Kirkby quit GAM in 2001 after 16 years at the firm; he ran long-only and long/short Japanese equities funds there, and launched its first UK Oeic in 1997. From its inception until Kirkby’s departure, that fund returned 13.4% compared with an average of 3.1% from its peer group.

PK Investment Management terminated all of its investment management agreements with its clients in October 2012 due to Kirkby’s personal circumstances, and the firm ended 2013 with no assets under management.

However, PK subsequently won a contract to manage a segregated Japanese equities mandate worth $100 million (£60 million) in February 2014.

Before joining emerging markets specialist Fabien Pictet in 2010, Wood spent two years as chief operating officer of private equity adviser Wedge Alternatives and eight years before that at Deutsche Bank.

Fabien Pictet & Partners has recruited Rahil Mandalia as its new chief operating officer. Mandalia was most recently managing director of Jim Jam, which invested in the food services industry, having started his career in 1994 as a research analyst with asset management group Global Emerging Markets.

'Rahil brings to us a wealth of valuable experience and knowledge within operational and management functions,' commented Fabien Pictet, managing partner of Fabien Pictet & Partners.

'This appointment builds upon the work of his predecessor in re-positioning Fabien Pictet & Partners to thrive within the current environment of increased regulation and investor demand for greater transparency.'

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