Morley announces board restructure

Article date: 10 January 2002

Morley Fund Management (“Morley”) has announcedseveral key changes to the structure of its Board to further enableit to fulfil its global ambitions. The changes to the roles of theBoard members will ensure that the skills and capabilities of theMorley Board are best aligned to drive Morley’s ambition tobecome a world class fund management business.

A key structural change is the appointment of two Deputy ChiefExecutive Officers which will enable Keith Jones, Chief ExecutiveOfficer of Morley to focus on:

  • Implementation of Morley’s strategic plan
  • Building Morley’s external market profile and forgingstrong client relationships

The role of the Deputy Chief Executive Officers will be toconcentrate on the execution of Morley’s business.

The following changes take effect immediately:

Gerard Quirke, formerly Managing Director Europe, willtake on the role of Deputy Chief Executive Officer and ChiefFinancial Officer, with responsibility for Finance, Compliance andLegal. Gerard’s financial background as a Managing Directorat AMVESCAP together with his experience at the client and businessdevelopment areas at Morley means he is ideally placed to developthe systems and disciplines which we need to underpin sustainablegrowth.

Malcolm Le May, formerly Managing Director International,will move to the role of Deputy Chief Executive Officer andManaging Director Europe. Creating a pan- European business is akey element in Morley’s plan within which the prioritiesinclude developing much stronger distribution capability acrossEurope and, where appropriate, working closely with CGNU’sEuropean asset management businesses. Malcolm’s strategicexperience within Europe as Deputy Chief Executive at ING Baringsand UBS Warburg, make him an ideal candidate for this role.

Dean Stannard will move from his role as Head ofCompliance, to the role of MD International, where he will focus onthe development of Morley’s business activities in theAmericas, Asia and the Pacific Rim. Dean has a strong background inthe development of global asset management business havingpreviously spent seven years at Fidelity Investments, helpingdevelop Fidelity’s business in Europe and Asia.

Mike Gould takes up the role of Head of Compliance,reporting to Gerard Quirke. Before joining Morley, Mike spent 12years with the FSA, most recently as Manager of the ProductAssessment Team within the Collective Investment SchemesDepartment.

Other Board positions remain unchanged with Gerald Holtham asChief Investment Officer, Jan Nuttall as Managing Director HumanResources and David Tremblay as Global Chief Operating Officer.

Keith Jones, Chief Executive Officer at Morley, commented:“The Board of Morley has an impressive range of businessmanagement skills and market experience which will lead us towardsour vision and the achievement of our goals. These changes willensure the Board’s skills and capabilities are better placedto deliver the aims and ambitions of the business on a globalscale. With over £100 billion under management, a robust investmentprocess and team and one of the broadest product offerings rangingfrom equities and bonds through to property, hedge funds and SRI weare already a leading fund management house in the UK. With thisnew board we now have the right people to transform us into abusiness which will become one of the major globalplayers.”


For further information please contact

Morley Fund Management
Keith Jones 020 7809 6006
Gerard Quirke 020 7809 8601
Malcolm Le May 020 7809 8100

Notes to Editors

  • Morley Fund Management (‘Morley’) is anindependently managed, London based, asset management businesswith over £100 billion under management. It has investmentmanagement operations in London, Tokyo and Singapore and anassociate office in Boston*.
  • Morley is a wholly owned subsidiary of the CGNU Group andmanages both institutional and retail funds under the Morleybrand. It also acts as investment manager for a range of retailinvestment funds, marketed in the UK under the Norwich Unionbrand.
  • 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.

*Norwich Union Investment Management, a CGNU Groupcompany

Morley Fund Management is a business name of Morley FundManagement Limited, registered in England no. 1151805. Registeredoffice: 1 Poultry, London EC2R 8EJ and Norwich Union InvestmentManagement Limited, registered in England no. 2152949. Registeredoffice: 8 Surrey Street, Norwich NR1 3NG.

Both are CGNU Group companies and are regulated by the FinancialServices Authority

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