Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

First State loses 10-strong global equity team to RBC GAM

First State loses 10-strong global equity team to RBC GAM

Ten of First State Investment’s global equity team are leaving the firm to join RBC Global Asset Management’s newly-formed unit in London.

The move sees a number of senior managers depart First State for the Canadian group, including former head of global equities, Habib Subjally.

Citywire Global previously reported on Citywire A-rated Subjally's upcoming departure at the end of last year.

In addition to Subjally, the new team includes a mixture of portfolio managers, senior analysts and quant specialists.

These are: Neil Abbott, Luis Benoliel, Marcus Lun, Jeremy Richardson, Julie Thomas, Dag Wetterwald, Perry Winfield, Ben Yeoh and Romain Scampini.

The team of specialists had previously managed US$2.5 billion in a variety of global equity strategies for institutions and private clients over the past eight years.

The new global equity team joins investment professionals at RBC GAM-UK specializing in emerging markets and European equities, as well as global and emerging markets fixed income.

In total, the London office currently comprises 34 investment professionals and staff, including five former First State global equity specialists who have already joined. That number will grow to 39 when Subjally and the remaining members of his team join in early March.

Commenting on the appointments, John Montalbano, chief executive officer of RBC GAM, said: ‘These expanded capabilities complement our existing breadth and depth of expertise across a wide range of global mandates, with a direct benefit to the individual and institutional investors we serve.’

RBC Wealth Management, the parent company of RBC GAM, oversees C$ 387 billion (US$355 billion) in assets under management. In 2010, the group purchased credit specialist BlueBay Asset Management.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Habib Subjally
Habib Subjally
316/346 in Equity - Global (Performance over 3 years) Average Total Return: 14.64%
Citywire TV
Play HSBC's Stephen King warns of 'enormous' Brexit deficit danger

HSBC's Stephen King warns of 'enormous' Brexit deficit danger

Brexit will weaken the economy, fail to boost exports and lessen the country's ability to fund its 'enormous' deficit, according to HSBC's senior economic adviser Stephen King.

Play Premier's Smith: electricity and water can be a good mix

Premier's Smith: electricity and water can be a good mix

Exposing your person to electricity and water simultaneously is ill-advised, but what about your portfolio?

Play Citywire 10k: video highlights

Citywire 10k: video highlights

Citywire held its sixth annual charity run last week, which hosted over 200 people and raised £14,000. Here are the video highlights.

Your Business: Cover Star Club

Profile: how to control your destiny in an age of regulation

Profile: how to control your destiny in an age of regulation

‘RDR was good news to us because it aligned our practices with the industry,’ says Courtiers boss Jamie Shepperd

Wealth Manager on Twitter