Nichols joined the firm in 2001 from Wilton Investments and has been lead manager of the Newton Cautious Managed fund since October 2009. The fund has returned 56.5% over the last three years compared to the LCI Mixed Asset index's 44.53% rise over the same period.
'Following my appointment as head of our private client business, we want to ensure that we continue to provide a high class service to our clients. As lead manager of the Newton Cautious Managed fund, which invests in both equity and fixed income and cash, [Nichols] is ideally suited to take over my responsibilities on the Newton Bridge fund,' Tye said, commenting on Nichols' appointment.
In a reshuffle earlier this year, former chief investment officer (CIO) Jeff Munroe was appointed to lead the firm’s global equities team.
His replacement, Simon Pryke, who joined Newton in 1996 as a global research analyst, was previously head of private clients and charities.
Helena Morrissey, (pictured) chief executive officer of the firm, said: ‘We believe that our investment process and philosophy position us well given our expectation of an environment characterised by lower returns and higher volatility.'