Morley appoints European COO

Article date: 28 November 2001

Morley Fund Management (Morley) has appointed Nick Alford asEuropean Chief Operating Officer (COO). Nick, who will reportjointly to John Hughes, Interim Global COO and Gerard Quirke,Managing Director Europe, will focus on delivering the strategy forMorley’s core operations in Europe.

Nick joins Morley from Dresdner RCM Global Investors UK where hewas Chief Operating Officer and a member of the Dresdner RCMmanagement team. He was responsible for 180 staff withinOperations, Investment Technology, Human Resources, Compliance,Legal and Facilities in the UK.

Prior to joining Dresdner RCM in 1998, Nick was OperationsDirector, European and Offshore Funds Controller for INVESCOEurope.

Before joining INVESCO, Nick spent 16 years in various seniorinternational operational and management roles at LGT AssetManagement/GT Global Investment Funds where he was most recentlyinvolved with the integration of the INVESCO and GTorganisations.

Commenting on the appointment Gerard Quirke, Managing DirectorEurope at Morley Fund Management said: "We are delighted that Nickhas been appointed as European COO. Operations is core to ourbusiness and we have made the decision to add significant strengthto this area through this appointment. Nick’s considerableexperience of operations in Europe will be a great asset to Morleyand we look forward to welcoming him to the company."

-ends-

For more information please contact:
Morley Fund Management
Gerard Quirke Tel: 020 7809 8600

Penrose Financial
Gay Collins Tel: 020 7786 4882 gayc@penrose.co.uk
Caroline Deutsch Tel: 020 7786 4871 carolined@penrose.co.uk

Notes to Editors:

Morley Fund Management is an independently managed, Londonbased, asset management business with £100 billion undermanagement. It has investment management operations in London,Boston, Tokyo and Singapore.

Morley is a wholly owned subsidiary of the CGNU Group andmanages both institutional and retail funds under the Morley brand.It also acts as investment manager for a range of retail investmentfunds, marketed under the Norwich Union brand.

CGU plc and Norwich Union plc merged on 30 May 2000 to createCGNU plc, the UK’s largest insurance group and one of thetop-five insurers in Europe with substantial positions in othermarkets around the world, making it the world’s seventhlargest insurer based on gross worldwide premiums.

Morley Fund Management is a business name of Morley FundManagement Limited (incorporated in England with Registered No.1151805 and Registered Office 1 Poultry London EC2R 8EJ) andNorwich Union Investment Management Limited (incorporated inEngland with Registered No. 2152949 and Registered Office 8 SurreyStreet Norwich NR1 3NG) both regulated by IMRO and members of theCGNU Group.

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