- Threadneedle will increase its collaboration with Columbia Management’s US Equities team
- According to Citywire, Cormac Weldon and Stephen Moore will be joining Artemis, a London-based asset management boutique
Cormac Weldon, Head of US Equities at Threadneedle Investments, has resigned and will leave the firm in April following full transition of his responsibilities, announced the asset management firm. Portfolio Manager Stephen Moore will also leave Threadneedle.
Diane Sobin becomes Head of US Equities reporting to Leigh Harrison, Head of Equities at Threadneedle. In addition to investing in the London based team, Threadneedle announced that it would increase its collaboration with Columbia Management’s substantial US Equities team. Columbia Management is the US-based asset management subsidiary of Threadneedle’s parent company, Ameriprise Financial. Threadneedle and Columbia manage a combined $117bn AUM in US Equities, with 56 Portfolio Managers and 58 analysts located in London, Boston, New York, Minneapolis, Portland, Hartford and Stamford, managing a full range of strategies.
According to Citywire, Cormac Weldon and Stephen Moore will be joining Artemis, a London-based asset management boutique, in April.
Mark Burgess, Chief Investment Officer at Threadneedle said: “Cormac has decided to leave Threadneedle after 17 years and we wish him well and thank him for his valuable contribution to the firm. Following his departure, we will continue to invest in our London team under Diane’s leadership, while also better and more fully utilizing the research resources of Columbia Management.”
Campbell Fleming, Chief Executive Officer at Threadneedle said: “Threadneedle has a well-established team-based investment process that has produced a strong and consistent track record of results for clients and this will not change. The extensive additional resources and expertise available to our US Equities team will provide added depth to our overall offering.”
Diane Sobin joined Threadneedle in September 2011 from Columbia Management, where she was a New-York based US Equities Portfolio Manager. Diane has 30 years’ experience in the industry, 28 years managing US Equities. She joined Columbia Management in 2001, and co- managed large and mid-cap value mutual funds and institutional portfolios. Diane will assume lead manager responsibilities for the Threadneedle American Select Fund. Diane currently co- manages the Threadneedle American Smaller Companies Fund along with Cormac and she will assume responsibility for this fund.
Nadia Grant, whose appointment was announced on 20 January and who starts at Threadneedle on February 3, 2014, will join Diane. Nadia joins from JP Morgan Asset Management where she was a portfolio manager focusing on US equities within the global multi-asset group, managing over $5bn in multi-asset solutions.
Nadia Grant will become lead manager of the Threadneedle American Fund. Ashish Kochar and Neil Robson will become co-managers of the Threadneedle American Extended Alpha Fund and the Threadneedle American Absolute Alpha Fund. Ashish and Neil currently manage the Threadneedle Global Extended Alpha Fund, which has achieved first quartile performance over 1, 3 and 5 years. Ashish joined Threadneedle in 2008 and has nine years’ experience in asset management. He previously worked as an analyst in the US Equities team. Neil Robson joined Threadneedle in 2011 and has 25 years’ experience as a fund manager covering global equities.