Former Aviva Investors boss Euan Munro has been appointed as chief executive of Newton Investment Management.
He will take up the position on June 23 and report to Hanneke Smits, chief executive of parent group BNY Mellon Investment Management and the former chief executive of Newton.
Andrew Downs will continue as interim CEO until Munro’s arrival, after which he will resume his role as chief operating officer.
“[Munro’s] investment credentials and extensive experience leading one of the UK’s larger asset managers with a presence in the institutional, intermediary and retail markets, are highly relevant to Newton and we look forward to warmly welcoming him soon,” said Smits.
The appointment comes two days after Munro departed Aviva, a firm he led for seven years during which time assets grew significantly. However operating profit fell in the first half of 2020, to £35 million from £50 million the previous year.
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