(April 11, 2014) — Julian Lyne, one of the most senior figures in distribution at F&C Asset Management, is to leave the firm, aiCIO has learned.
Lyne, currently head of global consultants & UK institutional at the company, is to join a rival European asset manager in a similar role, a source close to the situation said, adding he is due to leave the company in the coming weeks.
Lyne could not be reached for comment by press time.
He joined F&C from HSBC Global Asset Management six years ago, after five-year stints at both JP Morgan Asset Management and Fidelity Investments.
F&C confirmed to aiCIO that Greg Skinner, who joined the company in 2004 as a client services director before moving into consultant relations in 2009, would take over Lyne’s role immediately. He had previously worked at Schroders. The pair will work together during a short transitional period.
F&C has undergone significant changes over the past six months, the latest being its takeover by the Bank of Montreal, which has not yet completed, and the loss of a £12 billion Friends Life mandate to Schroders.
The company has also suffered a range of high-ranking departures, including George Dallas, co-head of corporate governance, who had also worked there for six years. Dallas left in March.
In January, John Yule stepped down as head of UK retail at F&C Investments. At the end of December, the company reported asset under management of £82.1 billion across its retail and institutional businesses.
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