Newton Investment Management has hired former Redington CEO Mitesh Sheth as chief investment officer (CIO) of its multi-asset business and appointed to its £2.6 billion UK equity team David Cumming from Aviva Investors and Abrdn’s Georgina Cooper.
Sheth will start his role at Newton’s £51.7 billion multi-asset business by 1 March, replacing Curt Custard who moved back to the US last summer for personal reasons.
In his new role, Sheth will report to Euan Munro, CEO of Newton IM, and will have oversight of Newton’s multi-asset and fixed income teams based in London, as well as the quantitative multi-asset solutions team in San Francisco.
Previously, Sheth served as CEO of Redington, an independent investment consultancy, after starting the firm in 2013 as director of strategy.
Cumming will join Newton IM in early March to manage the Newton UK Equity Income Strategy/BNY Mellon UK Income fund, having most recently served as CIO of equities at Aviva Investors and, prior to that, as head of UK equities at Standard Life Investments.
He will report to John Porter, Newton’s CIO of equities.
Cooper will join the management team of Newton’s UK Equity and Sustainable UK Opportunities strategies/BNY Mellon UK Equity and BNY Mellon Sustainable UK Opportunities funds, from Abrdn where she was a UK equities portfolio manager.
She will report to Louise Kernohan when she starts her role on 1 February.
Munro said: “I am delighted to welcome Mitesh, David and Georgina to Newton. Mitesh brings with him a wealth of experience from his 21 years in the industry and will be responsible for further developing our multi-asset proposition to meet clients’ future investment requirements, as well as contributing to our overall purpose, culture and development.”
Newton IM also announced that after 21 years with the company, head of equity opportunities Charles French will be leaving “to pursue another opportunity”. Yuko Takano, a portfolio manager in Newton’s global equity team, is also leaving the firm “to pursue another opportunity”.
“We would like to thank both Charles and Yuko for their contribution to Newton over the years and wish them all the best for their new endeavours,” added Munro.
© 2022 funds europe
