Newton fund manager Christopher Metcalfe is set to retire at the end of the year.
Simon Nichols, who heads the Newton UK equity fund, will take over the management of the Newton UK Income and Newton UK Opportunities funds, Fergus McCarthy, head of UK and Ireland intermediary distribution at BNY Mellon, told Wealth Manager.
McCarthy said: ‘Simon Nichols has worked alongside Christopher for many years. He has been at Newton for 16 years and worked very closely with the UK income and UK opportunity funds.’
The investment strategies and processes underpinning the funds will remain the same despite Metcalfe's departure, McCarthy stated.
In other changes, Iain Stewart is to come off the Newton Multi-Asset Balanced fund to focus his time on his other strategy, the Newton Real Return fund. The firm has also added Aron Pataki as a co-manager on the fund alongside Stewart and Suzanne Hutchins.
Matthew Brown will continue to manage the £2.4 billion Multi-Asset Balanced fund.
Hanneke Smits, Newton's chief executive, said: 'I would like to thank Christopher for the significant contribution he has made to the business and client portfolios since he joined over 10 years ago. We wish him all the best in his retirement.'