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Wealth Manager: Lloyds' fund bosses awaken sleeping giant

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by James Phillipps on Jan 31, 2013 at 00:01

For an investor that controls over £160 billion and owns between 10% and 20% of several of the country’s best known funds, Lloyds could have been accused in the past of almost being a silent partner with the asset management industry.

But with Jake Moeller and Jonathan ‘JB’ Beckett now in place at the head of its funds platform this is all set to change, and change fast.

‘Lloyds has brought in two battle-hardened fund selectors with 30 years’ experience between us,’ JB (below right) says, ‘We’re here to make some noise and put fund managers under the microscope.’

The Lloyds Banking Group fund platform is a big beast with its assets invested with around 20 external fund groups, along with Scottish Widows Investment Partnership, in around 300 underlying funds.

The pair were brought in to overhaul its investment process and introduce a more qualitative element to its fund selection. They have a complementary skillset, with Moeller’s pure fund of funds background making him the ‘good cop’ while JB, who brings considerable experience of private clients and due diligence, playing the ‘bad cop’.

Moeller joined in July, having previously been head of investment research at Alico/AIG Life for six years where he managed its in-house fund of funds range, following previous stints at the Commonwealth Bank of Australia and Axa.

JB started out at JRG Financial Consultancy, where he helped establish its high net worth multi-manager proposition, before spending six years at Franklin Templeton working in fund research and due diligence within its FT Managed Investment Solutions arm.

After later stints at Standard Life and then in complex product governance at Barclays Wealth, he moved over to Lloyds in November 2010, working on fund monitoring and reporting before moving across to the fund assessment team last May, shortly before Moeller joined.

The differences between the two could not be more stark in many ways, with Moeller describing his outside interests as reading and listening to Chopin, in contrast with JB’s love of mixed martial arts and tattoos. But it is a very comfortable working relationship, with the two frequently joking together, seemingly feeding off each other’s infectious energy.

 

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